Activision Acquires Beenox

After working with Canadian-headquartered developer Beenox, Inc. on the releases of Shrek 2, Tony Hawk's Underground 2, and the soon-to-be-released Fantastic Four game, Activision has taken the additional step of acquiring the Quebec-based company, it announced today - financial terms of the deal were not immediately revealed. Beenox's main asset that interests Activision is their quick method of converting games between console platforms, allowing Activision to more easily release its games on multiple platforms at once. The process has earned Beenox the "Innovative Enterprise of the Year" Fideides Award from the Quebec Business Council in 2005. The team will continue to operate in Quebec City, even after becoming a subsidiary of Activision. Dan Brown, president and CEO of Beenox, said that "We are thrilled to partner with Activision and believe that this acquisition is a perfect fit for both companies. In particular, it will allow Beenox to continue to develop high-quality titles based on well-established brands." Speaking on the decision to acquire Beenox outright, Activision president Kathy Vrabeck said that "Beenox's extensive porting background will be a key component of our console transition strategy by allowing us to focus our resources on next-generation technologies while continuing to develop games for current-generation systems."