Empire in advanced discussions over buyout
UK publisher Empire Interactive has announced that it is now in exclusive discussions with a single suitor regarding a buyout of the company - but has warned that its financial results will be impacted negatively by the ongoing talks.
UK publisher Empire Interactive has announced that it is now in exclusive discussions with a single suitor regarding a buyout of the company - but has warned that its financial results will be impacted negatively by the ongoing talks.
Empire has been known to be an acquisition target for some time, with companies including Vivendi Games and Guitar Hero publisher RedOctane rumoured to be interested in the firm.
This latest announcement, which was released to the markets in London early this morning, reveals that the company is now a long way down that path - with discussions with its suitor described as "advanced", and Empire's board being "confident in the outcome of the process."
However, Empire has cautioned that its results for the 15 months to March 2006 will be impacted negatively by the long-running negotiations, which have delayed the signing of a number of distribution deals for the firm's products.
The company claims that this revenue will be moved into the 2007 financial year, thus improving its prospects for that period at the expense of the previous reporting period.