Post by Segaman on May 21, 2004 8:02:08 GMT -5
As you may recall, at the end of last year Sammy announced that they had purchased a 22.4% stake in Sega Corp. Now the Associated Press is reporting that Sammy Corp. and Sega Corp. will integrate their operations under a new holding company.
The new company, Sega Sammy Holdings Inc., will become Japan's biggest video game software company. In fact, combined group annual sales of about 440 billion yen ($3.89 billion) will exceed those of the current largest Japanese game software firm, Konami Corp.
Sammy president Hajime Satomi, who will head up the new company, said, "By integrating our operations, we will strive to become the world's number one entertainment company at an earliest time."
The deal will be completed by October 1st, with Sammy shareholders holding a 72% stake. How this will affect Sega's future software plans both in the console market and on the arcade front is not clear at this time.
The new company, Sega Sammy Holdings Inc., will become Japan's biggest video game software company. In fact, combined group annual sales of about 440 billion yen ($3.89 billion) will exceed those of the current largest Japanese game software firm, Konami Corp.
Sammy president Hajime Satomi, who will head up the new company, said, "By integrating our operations, we will strive to become the world's number one entertainment company at an earliest time."
The deal will be completed by October 1st, with Sammy shareholders holding a 72% stake. How this will affect Sega's future software plans both in the console market and on the arcade front is not clear at this time.
