New York - IAC (InterActiveCorp) announced on Tuesday that it has acquired a majority stake in GarageGames, an Oregon-based provider of game development tools.

Financial details of the deal were not disclosed.

Founded in 1999, GarageGames developed the Torque Game Engine series of tools, which have been used in the creation of titles for PC, Mac, Xbox 360 and Wii platforms, including the company's own "Marble Blast" franchise.

The companies will jointly launch InstantAction.com, a site that will offer original action games, as well as a Game Development Fund to provide financing to game developers.

InstantAction.com is currently accepting registrations for a beta test, and is expected to launch in early 2008.

"We've been looking at the video game sector for years and it wasn't until we found GarageGames and their idea for InstantAction.com that we believed IAC could participate in a true internet innovation in online gaming," said IAC chief executive Barry Diller.

Related Links:
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http://www.iac.com

http://www.garagegames.com

http://www.instantaction.com