Recently, Take Two Interactive announced that they’d be trimming their accessory division Joytech in order to streamline operations. What came as more impressive news to many people was Take Two owned Joytech in the first place.
In a move that Take Two says will hopefully allow all of the employees in both the Joytech US and UK offices to keep their jobs, the Joytech brand has been completely sold to Mad Catz Interactive. The purchase is expected to increase revenues by roughly $10 million US per year globally, with the most considerable growth being seen in Europe. Mad Catz is said to be financing the purchase through a pile of cash they’d been sitting on, with the rest topped up by extending their current burrowed funds.
Mad Catz is also looking to buy up more market-share, which is mentioned in the press release issued on Friday Sept 7th. No word how this will manifest itself, but there aren’t many 3rd party accessory manufacturers in the games industry. Pelican, anyone?