Take Two acquires Illusion Softworks

Today, Take Two Interactive announced their acquisition of Illusion Softworks, creators of Mafia, Hidden & Dangerous, and Vietcong.  Illusion will join 2K Games development studio under the name 2K Czech. 

Currently, Illusion Softworks is developing Mafia II with 2K Games.  Ben Feder, CEO of 2K was quoted as saying, “The acquisition of Illusion Softworks reflects our strategic focus on owning high-value intellectual property as we continue to expand our portfolio of triple-A titles.” 

Take Two’s rapid expansion (having recently formed 2K Marin) spells good things for fans of their previous releases (and really, who doesn’t love at least one thing they’ve done). Considering the smashing success of Bioshock it will be interesting to see what 2K can do with this title.  No release date has been announced for Mafia II as of yet.  Hit the jump to peep the full press release.

[Thanks, Justin] 

Take-Two Interactive Software, Inc. Acquires Illusion Softworks

New York, NY – January 8, 2008 – Take-Two Interactive Software, Inc.
(NASDAQ:TTWO) today announced the acquisition of Illusion Softworks, a
premier Central European-based game development studio with operations
in Brno and Prague, the Czech Republic.  Illusion Softworks has
approximately 200 employees and will join Take-Two’s 2K Games publishing
label as its newest studio, 2K Czech.

Established in 1997, Illusion Softworks is the creator and owner of
several hit video game franchises, including Mafia, Hidden & Dangerous
and Vietcong.  The studio is currently working with 2K Games on Mafia
II, the sequel to the original Mafia, which helped establish the
gangster genre and sold more than two million units.

“The acquisition of Illusion Softworks reflects our strategic focus on
owning high-value intellectual property as we continue to expand our
portfolio of triple-A titles,” said Ben Feder, Chief Executive Officer
of Take-Two.

Christoph Hartmann, President of 2K, said, “Adding 2K Czech to our
network of development studios demonstrates our strong commitment to
creating great franchises and building world-class creative teams.  The
2K Czech team is responsible for several very innovative and
highly-regarded franchises and we look forward to continuing to develop
new and existing IP together.”

“We have an excellent working relationship with 2K Games and the utmost
respect for them,” said Petr Vochozka, CEO of 2K Czech.  “We are pleased
to become a 2K studio and are confident that this new partnership will
strengthen our current and future projects.”

About Mafia II

Bred from enormous fan demand, Mafia II is the sequel to the classic
free roaming action-crime game that mesmerized gamers around the world.
Mafia II takes players on an unforgettable journey interacting with
Empire City’s Mafia crime families from the early ’50s.  Intense
gameplay and a script by Daniel Vavra, the scriptwriter of the original
Mafia, provide the perfect synergy of action and award-winning
storytelling.  The title is being developed for the Xbox 360(r) video
game and entertainment system from Microsoft, PLAYSTATION(r)3 computer
entertainment system, and Games for Windows(r).

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a
global developer, marketer, distributor and publisher of interactive
entertainment software games for the PC,  PLAYSTATION(r)3 and
PlayStation(r)2 computer entertainment systems, PSP(r)
(PlayStation(r)Portable) system, Xbox 360(r) and Xbox(r) video game and
entertainment systems from Microsoft, Wii(tm), Nintendo GameCube(tm),
Nintendo DS(tm) and Game Boy(r) Advance. The Company publishes and
develops products through its wholly owned labels Rockstar Games, 2K
Games, 2K Sports and 2K Play; and distributes software, hardware and
accessories in North America through its Jack of All Games subsidiary.
Take-Two’s common stock is publicly traded on NASDAQ under the symbol
TTWO. For more corporate and product information please visit our
website at www.take2games.com <https://www.take2games.com/> .

Microsoft, Xbox, Xbox 360, Xbox LIVE, and the Xbox logos are trademarks
of the Microsoft group of companies.

“PlayStation”, “PLAYSTATION”, and “PS” Family logo are registered
trademarks of Sony Computer Entertainment Inc.

All trademarks and copyrights contained herein are the property of their
respective holders.

Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This press release contains forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. The statements contained herein which
are not historical facts are considered forward-looking statements under
federal securities laws. Such forward-looking statements are based on
the beliefs of our management as well as assumptions made by and
information currently available to them. The Company has no obligation
to update such forward-looking statements. Actual results may vary
significantly from these forward-looking statements based on a variety
of factors. These risks and uncertainties include the matters relating
to the Special Committee’s investigation of the Company’s stock option
grants and the restatement of our consolidated financial statements. The
investigation and conclusions of the Special Committee may result in
claims and proceedings relating to such matters, including previously
disclosed shareholder and derivative litigation and actions by the
Securities and Exchange Commission and/or other governmental agencies
and negative tax or other implications for the Company resulting from
any accounting adjustments or other factors. Other important factors are
described in the Company’s Annual Report on Form 10-K for the fiscal
year ended October 31, 2007 in the section entitled “Risk Factors.”

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Qais Fulton
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