GT Buys UK Dev House
Spending spree extends to the British Isles as GT Interactive buys Destruction Derby maker Reflections Interactive.
With the purchase of UK-based Reflections Interactive (announced on Tuesday), GT Interactive adds another country to its growing global presence. "The global market is incredibly strong," GT spokesperson Allyne Mills told GameSpot News Tuesday. Mills elaborated by saying that GT's theory includes tapping local development companies who can best develop titles suitable for that market. Reflections has a respected track record among gamers with its Destruction Derby and Destruction Derby 2 titles, which have each sold over a million copies. It currently has a PlayStation/PC title, Driver, in the works.
"GT Interactive's philosophy in general has been to acquire companies that are well run and have good track records and support them," Mills said. Reflections, with its staff of 40 and current focus on Driver, fits that description. Reflections joins Bootprint Entertainment, Cavedog Entertainment, Humongous Entertainment, SingleTrac, and Oddworld Inhabitants in the sizable stable of GT-owned development houses.
GT bought Reflections by tendering 2.7 millions shares of GT common stock. Currently, the deal is valued at US$14.17 million.
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