SCEA Acquires RTIME

Sony Computer Entertainment America announced today that it has bought RTIME, a private company that provides real-time products and services on both the Internet and broadband networks. Though financial terms are not available, it has been revealed that RTIME is now a wholly owned subsidiary of Sony. RTIME's current management team will remain the same under its new owners, and in addition to supplying its current clients with its proprietary technology, a section of RTIME's staff will now be dedicated to building a broadband network engine for the PlayStation 2.

"We are pleased to be working closely with formidable technology partners like RTIME in the development of our broadband strategy," said Shuhei Yoshida, vice president of product development for Sony Computer Entertainment America. "This new corporate acquisition allows us to continue to move forward with our broadband plans for the PlayStation 2 computer entertainment system and ensure that we are providing our software developers and content providers with the most robust environment available."

Chip Overstreet, president and CEO of RTIME, agreed. "The PlayStation 2 computer entertainment system has all the ingredients necessary to become the standard entertainment platform for the Internet and broadband networks," Overstreet said. "As part of Sony Computer Entertainment America, RTIME is positioned to extend the platform even further by enabling new forms of interactive content and offering end users the most compelling multiuser games and applications experience possible."