Paris - French video game publisher Ubisoft announced that it has sold its 19% stake in mobile games publisher Gameloft to French bank Calyon for about $112.2 million.

Under the deal, Calyon has 24 months to sell the Gameloft shares, at which time the transaction will affect Ubisoft's balance sheet.

"The video game market offers numerous internal and external growth opportunities. We have decided to sell our stake in Gameloft in order to focus on Ubisoft's expansion and strengthen our ability to seize all such growth opportunities," said Ubisoft CEO Yves Guillemot.

"Following this sale Ubisoft and Gameloft will continue their productive collaboration at a purely operational level, particularly concerning the utilization of Ubisoft's brands on mobile phones."  

Related Links:
http://www.ubi.com/US/News/Info.aspx?nId=4667

http://news.yahoo.com/s/nm/20070718/tc_nm/ubisoft_gameloft_dc_1

http://www.gameloft.com