GT Completes Acquisition

Friday GT Interactive announced that it has completed its acquisition of SingleTrac Entertainment Technologies in a US$16 million transaction. The acquisition was announced at E3 in Atlanta this past June. The first title to come out of the deal will be Critical Depth, which will be released next month. SingleTrac is now a development studio for GT Interactive, which will publish its future titles.

SingleTrac is best known for the PlayStation titles it developed for Sony Computer Entertainment America. Hits like Twisted Metal and its sequel, Jet Moto, and War Hawk aided Sony's PlayStation machine to become dominant in the US market.

All of SingleTrac's 70 employees, 60 of which handle product development, remain with the company. SingleTrac will be developing three to four titles per year for release on both the PlayStation and PC, in addition to other next-generation systems.