Take-Two sells Joytech to Mad Catz

Take-Two Interactive has announced that is has sold its game accessories business Joytech to rival peripheral manufacturer Mad Catz.

Joytech was a wholly owned subisdiary of Take-Two, and has been sold with all its assets, including all staff.

The publisher had previously said it was planning to divest all its non-core businesses.

"The sale of the Joytech assets is consistent with one of the key goals we established in our 100 Day Plan: to develop strategic alternatives for any operations that we determined to be outside our core publishing business," said Ben Feder, Take-Two's Chief Executive Officer, in a press release.

"We are particularly pleased that we accomplished this goal in a manner that will allow substantially all of our Joytech employees in the US and UK to join Mad Catz, which is a highly respected provider of video game peripherals," he added.

The release also notes that the sale is not expected to be material to Take-Two's financial results.

Take-Two's "100 Day Plan" was announced by the company's new management in April, shortly after the previous management was forced out by investors.