Santa Monica, Ca - October 30, 2003 - Activision, Inc. (Nasdaq: ATVI) announced today that the company has exercised its option to acquire the remaining 70% of outstanding common stock in Infinity Ward, the developer of Activision's highly anticipated PC game for the holiday season, Call of DutyTM.
The acquisition of Infinity Ward, combined with Activision's Raven Software, solidifies the company's industry leading position as a developer, publisher and distributor of first-person action games.
"This acquisition is aligned with Activision's strategy to acquire companies with a history of creating high-quality products which over time can enhance the company's financial operating model," stated Ron Doornink, President and CEO, Activision Publishing, Inc. "Infinity Ward has a very talented team of programmers, designers and artists, many of whom were members of the team that developed Medal of Honor Allied Assault, one of the most acclaimed PC games of last year. We are confident that this studio's development strengths will further establish Activision as a leader in the PC action genre."
Industry veterans Grant Collier, Vince Zampella and Jason West each have signed a long-term employment contract with Activision and will continue to manage Infinity Ward. Additionally, key employees also have signed long-term employment contracts with Activision.
Under the terms of the agreement, Infinity Ward became a wholly owned subsidiary of Activision.
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 $864 million for the fiscal year ended March 31, 2003.
Activision maintains operations in the U.S., Canada, the United Kingdom, France, Germany, Japan, Australia, Scandinavia and the Netherlands. 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.
The statements contained in this release that are not historical facts are "forward-looking statements." 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. These important factors, and other factors that could affect Activision, are described in Activision's Annual Report on Form 10-K for the fiscal year ended March 31, 2003, which was filed with the United States Securities and Exchange Commission. Readers of this press release are referred to such filings.
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