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Take Two Invests in eUniverse

Take Two Interactive has reached an agreement with online gaming network eUniverse to invest up to three million dollars in eUniverse common stock. The deal has Take Two ...
Take Two Interactive has reached an agreement with online gaming network eUniverse to invest up to three million dollars in eUniverse common stock. The deal has Take Two picking up 400,000 shares of eUniverse at five dollars a share, with an option for an additional 200,000 shares as part of separate cooperative advertising plan. The agreement will see the two companies develop strategic marketing and online initiatives to combine Take Two's game development and distribution strengths with eUniverse's established gaming sites. "As part of our corporate plan to expand our Internet presence, we believe that eUniverse's 3 million unique users coupled with eUniverse's ability to deliver gaming content and community to our shared demographic provides a competitive advantage in executing an online strategy for the video games industry," commented Take Two CEO Ryan Brant.

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