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Superscape Announces Strategic Review, Possible Sale

Mobile game developer Superscape has announced it is instituting a strategic review of the company, and may even be mulling accepting a buy-out, following recent disappoi...
Mobile game developer Superscape has announced it is instituting a strategic review of the company, and may even be mulling accepting a buy-out, following recent disappointing news on revenues. A statement from the company, which develops 2D and 3D mobile games based on properties such as Alien versus Predator, AMF Bowling, and Fight Club, indicated: "The directors are currently considering all of the strategic options available to the company, including a sale." Recent rumors have linked publishing giant Electronic Arts to interest in the company, although with the EA name currently circling around multiple players in the mobile space, it's unclear which, if any of the reports are true. Superspace did raise the ire of the UK financial markets recently, however, by raising UKP20 million ($35 million) in an open share placing, and then almost immediately warning on profits for the year, commenting: "Whilst the revenue for the year ending 31 January 2006 is expected to significantly exceed that for the year ended 31 January 2005, it will be lower than originally expected." This profit warning reduced the company's shares as low as 20p ($0.35), but following the EA rumors and this latest news, latest trading saw the shares for the firm, which has has corporate offices in Hook, Hampshire, UK and San Clemente, California, together with development and production facilities in Moscow, rebounding back to 30p ($0.52).

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