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RedOctane Bought For $100 Million

| 10 Aug 2006 15:48

Activision's latest SEC filing has revealed that the publisher paid $99.9 million for RedOctane, the development studio behind Guitar Hero.

In May of 2006, Activision purchased RedOctane for an undisclosed amount of money on the eve of E3. It has been revealed in their latest SEC filing that Activision paid $99.9 million for the studio with another $50 million in Activision stock if "the net income of the business over a certain period of time exceeds certain target levels by certain amounts."

Guitar Hero 2 is slated to hit shelves this Christmas with new multiplayer modes and over 40 news songs. In 2007 the company plans to unveil Guitar Hero "theme" releases covering genres like country and heavy metal.

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