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Navarre Completes Purchase of Japanese Media Distributor Funimation

Authored by Mark Hefflinger on May 12, 2005 - 9:21am.
Minneapolis -- Navarre Corp., a publisher of video games, DVDs and software, announced that it has completed its acquisition of Japanese anime producer Funimation Productions, which it purchased for $100.4 million in cash and 1.8 million shares. Texas-based Funimation is the North American distributor for Japanese creations including "DragonBall Z" and "Yu-Yu Hakusho." Minneapolis-based Navarre also said it purchased the outstanding 20% stake in its Encore game publishing subsidiary that it did not already own. The company expects its purchase of Funimation will increase its 2006 revenue to between $710 and $720 million, compared with the $599.2 million it expects to report for 2005.
tags: Purchase | Navarre | FUNimation | Japanese Media |