LONDON-Manufacturer Gizmondo Europe Ltd. has acquired European game developer Indie Studios for about $8 million in stock of Gizmondo parent company Tiger Telematics Inc., the subsidiary announced Tuesday.
The acquisition will enable Stockholm, Sweden-based Indie Studios to develop gaming under the Gizmondo brand while providing Gizmondo with game content. Indie is already developing two games exclusively for Gizmondo.
“With our resources and financial muscle, we are able to provide Indie Studios with essential support and direction,” said Carl Freer, managing director of Gizmondo. “And by owning our own games developer, we gain control over unique content and its evolution.”
Gizmondo is a combined gaming, messaging and multimedia device that works on GPRS networks. The device is scheduled to launch in the United Kingdom in the fourth quarter and in North America in 2005.
