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Navarre Acquires Japanese Anime Distributor FUNimation for $100 Million

Authored by Mark Hefflinger on January 11, 2005 - 10:44am.
Minneapolis -- Navarre Corporation, a publisher of video games and other entertainment software, announced on Tuesday that it has acquired FUNimation Productions, a leading distributor of Japanese animation and children's entertainment in the U.S., for over $100 million in cash and over 1.4 million shares of Navarre. Texas-based FUNimation distributes home video and arranges U.S. TV licensing for brands including Teenage Mutant Ninja Turtles, Dragon Ball Z, Yu-Gi-Oh!, Yu Yu Hakusho, Beyblade and Cabbage Patch Kids. In 2003, FUNimation saw sales of $81.6 million and net income of $30.5 million. Minnesota-based Navarre's products include video games developed by its Encore subsidiary, in addition to PC software, music CDs and DVD video. "The FUNimation acquisition is consistent with our overall business strategy and will significantly increase our publishing offerings, establishes long-term relationships with new vendors and customers, and solidify our position as a premier provider of published and licensed home entertainment products," said Navarre's chief operating officer of publishing and licensing, Cary Deacon.
http://biz.yahoo.com/prnews/050110/cgm052_1.html 
http://www.navarre.com 
http://www.funimation.com

tags: Navarre | Acquires | FUNimation | Japanese Anime Distributor |



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