Connect Technologies Acquires 12% Stake in GameArts
05.12.05 - 10:20 PM
GameArts today announced a cooperation agreement with Connect Technologies. Under this agreement, the latter will provide its mobile platform technology to the makers of Grandia and Lunar and jointly develop new key technologies to be used in the game software market. Furthermore, Connect Technologies has acquired 200 GameArts shares worth 200 million yen ($1.89 million US). Thereby, the company will hold a 11.9% stake in the development studio.
This deal follows similar agreements with Enix (now Square Enix) in 2001 and GungHo Online Entertainment in 2004. Connect Technologies so far has focused exclusively on the development of cellphone applications. One of its three largest shareholders is Bandai Networks.