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Sega Completes Acquisition of GameWorks

Authored by Mark Hefflinger on November 3, 2005 - 6:08am.
Glendale, Calif. - Sega Entertainment U.S.A. Inc. (SEUI), an American unit of the Japanese video game publisher, announced on Thursday that it has completed its acquisition of the assets of GameWorks, a location-based entertainment business. GameWorks currently operates 14 restaurants with expansive video game arcades. Founded in 1997, with backing from Steven Spielberg's DreamWorks studio -- which withdrew support for the company in 2001 -- GameWorks would later file for Ch. 11 in 2004. Sega said it named former Coca-Cola executive Ben Kitay to serve as president and COO of SEUI, which will oversee GameWorks. The company plans to invest in updating the games offered in GameWorks locations over the next year.
http://tinyurl.com/934p8
http://www.sega.com 
http://www.gameworks.com
tags: Games | VC | Sega | Deal | Acquisition | GameWorks |

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