Sammy Studios Inc. Completes MBO, Renames To High Moon

Carlsbad, CA-headquartered Sammy Studios, Inc. has announced that it has completed a management buyout from parent company Sammy Corporation of Tokyo, Japan, following recent publishing and marketing-related layoffs and rumors of a change of tack for Sammy as an entity. The private investment group led by John Rowe, president and chief operating officer of Sammy Studios, purchased all shares of the company as well as the rights to original video game properties being developed at the studio, including the upcoming console title Darkwatch. The acquisition takes place in advance of Sammy's integration of video game operations with Sega as the two Japanese companies merge into Sega Sammy Holdings, Inc. Sammy Studios also announced today that the company has changed its name to High Moon Studios, Inc., establishing a wholly independent, privately held game development company. The company remains headquartered in its development studio in Carlsbad, California, where more than 100 developers are working on both current and next-generation console titles. Commenting on the announcements, Mr. Rowe, president and CEO of High Moon Studios, said, "Today we introduce ourselves as a new, independent video game company. Sammy's decision to discontinue game development in North America has afforded us the rare opportunity to establish an independent studio built on existing capabilities and resources."