Take 2 sells Joytech to Mad Catz

Take Two Interactive announced that it has sold Joytech to rival manufacturer Mad Catz, including all assets and employees.

A subsidiary of Take Two, Joytech manufactures state-of-the-art videogames, audio visual accessories and offers them to the community at competitive prices. Take 2′s CEO, Ben Feder, said he was pleased that Mad Catz was able to keep the employees of Joytech in the sale despite stating earlier that they have planned to divest all of its non-core businesses.

“The sale of the Joytech assets is consistent with one of the key goals we established in our 100 Day Plan: to develop strategic alternatives for any operations that we determined to be outside our core publishing business,” said Feder in a press release. “We are particularly pleased that we accomplished this goal in a manner that will allow substantially all of our Joytech employees in the US and UK to join Mad Catz, which is a highly respected provider of video game peripherals.”

Read [Game Industry Biz] Site [Mad Catz] Site [Take Two] Site [JoyTech]