Activision's Quebec-Based Studio Beenox Significantly Expands Its Development Operations
Activision Also Announces Pilot Program to Begin Quality Assurance Testing in Quebec City Workforce Expected To Triple By 2009
SANTA MONICA, Calif., May 01, 2007 (BUSINESS WIRE) -- Quebec-based video game studio, Beenox, Inc., a subsidiary of Activision, Inc. (Nasdaq:ATVI), announced today that the company expects to triple its workforce over the next two years, creating more than 200 new positions in the Quebec area by 2009.
The company, which over the past year and a half has more than doubled its staff, will focus its efforts on developing games for the next-generation consoles. The studio will be creating games based on Activision's largest licensed properties including movie-based games and super hero titles.
Additionally, Activision announced that Beenox will begin a pilot quality assurance program in Quebec City this summer. Beenox will begin testing a limited number of Activision's Nintendo DS and PC games and expects to expand into additional console platforms over the next two years.
Beenox will begin its recruitment activities for both of these initiatives immediately via the company's website, www.beenox.com, and augment the effort with local advertising, recruitment drives at schools across Quebec, and other hiring events in upcoming months.
"Activision is making a significant investment in Beenox and the Quebec region, which is one of the fastest growing talent pools in North America," said Robin Kaminsky, executive vice president of Activision Publishing. "Beenox has consistently delivered high-quality titles and we are confident in their ability to continue creating great games in the coming years."
"I am very excited about the opportunity to strengthen and grow Beenox's infrastructure, which is a testament to the incredible work of our team," said Dee Brown, President of Beenox. "Activision's investment will allow us to greatly expand our development capabilities and work on some of the best projects in the game industry."
Founded in 2000, Beenox, Inc. is a rapidly expanding game development studio based in Quebec City, Canada, specializing in creating games for video game consoles and personal computers. In 2006, the studio was honored with the prestigious "Enterprise of the Year" award at the 23rd edition of the Fideides Awards, organized by the Quebec Business Council.
Headquartered in Santa Monica, California, Activision, Inc. is a leading worldwide developer, publisher and distributor of interactive entertainment and leisure products. Founded in 1979, Activision posted net revenues of $1.47 billion for the fiscal year ended March 31, 2006.
Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Italy, Japan, Australia, Scandinavia, Spain, the Netherlands and South Korea. More information about Activision and its products can be found on the company's World Wide Web site, which is located at www.activision.com.
Cautionary Notes Regarding Forward-Looking Statements: The statements made in this press release that are not historical facts are "forward-looking statements." These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties. The company cautions readers of this press release that a number of important factors could cause Activision's actual future results to differ materially from those expressed in any such forward-looking statements. Such factors include, without limitation, the findings of the special sub-committee, the effect of the special sub-committee's review and conclusions on, and other developments in, the informal inquiry opened by the SEC in July 2006 and the derivative litigation filed in July 2006 against certain current and former directors and officers of the company, the possibility that additional claims and proceedings will be commenced, including additional stockholder litigation, employee litigation, and additional actions by the SEC and/or other regulatory agencies, and direct and indirect expenses and diversion of management time resulting from or relating to the special sub-committee review and related regulatory proceedings and litigation, the company's ability to timely file required reports with the SEC, and the possibility that the company will be subject to delisting from The Nasdaq Stock Market due to its inability to timely file periodic reports under the Securities Exchange Act of 1934 or failure to satisfy other requirements for continued listing. Other factors that could cause Activision's actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, without limitation, other litigation (unrelated to stock option granting practices), sales of the company's titles, shifts in consumer spending trends, the seasonal and cyclical nature of the interactive game market, the company's ability to predict consumer preferences among competing hardware platforms (including next-generation hardware), declines in software pricing, product returns and price protection, product delays, retail acceptance of the company's products, adoption rate of new hardware and related software, industry competition, rapid changes in technology and industry standards, protection of proprietary rights, maintenance of relationships with key personnel, vendors and third-party developers, international economic and political conditions, natural disasters, integration of recently acquired subsidiaries, and identification of suitable future acquisition opportunities.
These important factors and other factors that potentially could cause actual future results to differ materially from current expectations are described in our filings with the SEC, including the company's most recent annual report on Form 10-K, quarterly report on Form 10-Q and current reports on Form 8-K. Readers of this press release are referred to such filings. The forward-looking statements in this press release are based upon information available to the company as of the date of the release, and the company assumes no obligations to update any such forward-looking statement. The company may change its intention, belief or expectation, at any time and without notice, based upon any changes in the enumerated factors or in the company's assumptions, or otherwise, and forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the company's control and may cause our actual results to differ materially from our current expectations.
SOURCE: Activision, Inc.
Activision, Inc. Ashley Dyer, 310-255-2548 Sr. Manager, Corporate Communications email@example.com
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