EL33TONLINE: News tag archive: 2k

EA have announced that they are discontinuing their takeover bid for Take-Two (2K) and have terminated their discussions with that company. This brings to an end EA’s campaign to acquire 2K with their initial bid of $2 billion, a sum of money 2K repeatedly turned as they felt it severely undervalued the company. The initial bid, which saw numerous extensions, eventually turned hostile in a perceived attempt to acquire 2K before the lucrative release of Grand Theft Auto IV, a notion EA denied, but acknowledged.

More recently, EA stepped away from their hostile takeover plan, entering closed-doors talks with 2K in an attempt to negotiate 2K’s true worth. EA repeatedly stressed the urgency of the talks, wanting to gain control of 2K’s line-up before the lead-up to Christmas. It now appears as though no agreement has been met and the talks have been terminated, after EA’s “careful consideration, including a management presentation and review of other due diligence materials”.

2K will continue to seek alternative partnerships, according to chairman of the Board of Take-Two, Strauss Zelnick, “…we remain actively engaged in discussions with other parties in the context of our formal process to consider strategic alternatives. We’re especially proud of the success we’ve enjoyed over the past eighteen months and we remain confident in our ability to generate value for stockholders”.

Take Two has announced that it will be publishing Cryptic Studios’ MMO Champions Online under its 2K Games label. The publisher also revealed that Champions Online is being developed for the Xbox 360 and PC. The game is scheduled to be released in Spring of 2009.

Cryptic Studios are well known for creating the City of Heroes and City of Villains MMO titles. Champions Online will be based on the Champions pen-and-paper RPG. It will enable players to customize their experience and explore a vast comic book universe.

“2K Games is excited to work with such a talented group as Cryptic Studios,” said Christoph Hartmann, president of 2K. “Given their stellar pedigree and amazing grasp of the MMO genre, we are confident that Champions Online will deliver an innovative and exciting action MMO experience to gamers.”

“2K Games is a terrific publishing partner for Champions Online,” said John Needham, CEO of Cryptic Studios. “Cryptic is proud that Champions Online will be 2K’s first MMO title and we look forward to working together towards a tremendous launch next year.”