British publisher Empire Interactive sells to holding company Silverstar.
British Empire Interactive, publisher of FlatOut 2, accepted a deal to sell 85 percent of the company to the holding company Silverstar for an estimated $9.10 million. The bid was announced one month ago, allegedly among similar offers offered by Red Octane, Vivendi and Eidos. Empire's teams are scattered among Germany, France, and Spain.
On December 20th, Empire Interactive will be delisted from the Alternative Investments Market on the London Stock Exchange. Following the acquisition, Silverstar plans to expand the company's titles onto digital distribution networks. Valve's Steam service already distributes S.C.S.: Dangerous Waters, a game developed by Malfafor Machinations, another Silverstar property.
"We are pleased that the Empire transaction has been declared wholly unconditional. We look forward to building the business to create greater value for our shareholders," commented Clive Kabatznik, CEO of Silverstar Holdings.