Infogrames announced today that it has initiated talks to acquire the rights to Paradigm Entertainment Inc. Once the deal is complete, Paradigm will become a wholly owned subsidiary of Infogrames Entertainment. Aside from financial reimbursement, Paradigm stands to acquire up to 700,000 shares of Infogrames as part of the agreement.
"Infogrames is a recognized leader within the entertainment industry, and Paradigm is honored to join such a world-class organization," said David Gatchel, president and CEO of Paradigm Entertainment. "Through our relationship with Infogrames, Paradigm is positioned to focus its creative and technological expertise toward the continued development of quality interactive experiences."
Infogrames also expressed excitement about the possible acquisition. "Infogrames' US strategy, moving forward, is to increase the percentage of titles developed internally, focus on high- quality titles and lead next-generation console publishing," said Bruno Bonnell, chairman and CEO of Infogrames Entertainment. "Paradigm's 80-plus person development team will propel us towards these goals with its proven track record of quality content and technological prowess."
Paradigm promises to maintain a solid R&D division, to ensure that its products remain at the forefront of the industry's latest advances. Paradigm's current development library contains games such as Pilot Wings 64, F1 World Grand Prix, and Beetle Adventure Racing. Paradigm officials were not available at press time for comment on specific development plans. Keep your browser pointed at GameSpot. We'll have more on this story very soon.