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Yahoo Pays $500 Million to Acquire Stakes in Overseas Units from Softbank

Authored by Mark Hefflinger on November 7, 2005 - 2:52am.
Sunnyvale, Calif. - Yahoo announced on Monday that it will purchase the remaining stakes in its Yahoo Europe and Yahoo Korea units from Japan's Softbank. Yahoo will pay a total of $500 million to Softbank for the 30% stake in Yahoo UK, Yahoo Germany and Yahoo France, and 33% in Yahoo Korea that Softbank holds, giving Yahoo complete control over the foreign subsidiaries. "This agreement to purchase the remaining shares not already owned by Yahoo! in Europe and Korea demonstrates the confidence we have in our international businesses and our commitment to deliver long-term shareholder value," said Yahoo chairman and CEO Terry Semel. "By buying out Softbank's JV interests, our strategic flexibility to take advantage of international growth opportunities in Korea and Europe will be enhanced, and this new structure should lead to a more efficient, longer-term operating and tax model."
tags: Yahoo | Softbank | Stakes | Overseas Units |

THQ Wireless Buys Controlling Stake in Swiss Mobile Firm Minick

Authored by Mark Hefflinger on May 5, 2004 - 3:02am.
Calabasas Hills, Calif. -- THQ Wireless, the mobile games unit of the video game publisher, announced on Wednesday that it has acquired a controlling interest in Swiss mobile games, applications and billing software provider Minick. Financial details of the transaction were not disclosed, although the companies have been partners for two years and THQ already held a 25% stake in the company. Minick has created SMS, EMS and MMS messaging, information, multimedia and voting applications for customers including T-Mobile, Telefonica, MTV, Channel 4 and Universal Music.
tags: Swiss | Mobiles | THQ Wireless | Stakes | Minick |

Nintendo Buys 2.6% Stake in Video Game Developer Bandai

Authored by Mark Hefflinger on October 22, 2003 - 3:42am.
Tokyo -- In a bid to help ensure a greater number of game titles for its GameCube and Game Boy Advance, Japanese video game firm Nintendo has purchased a stake in fellow video game developer and toymaker Bandai. With its purchase of 1.28 million shares, Nintendo now owns 2.6% of Bandai, but told the Associated Press it has no plans to launch a takeover of the company. Tokyo-based Bandai also said toymaker Mattel has sold part of its stake in the company. Bandai has released video games based on popular toy franchises including the Power Rangers, Gundam, Strawberry Shortcake and Hello Kitty.
tags: Nintendo | Video Game | Stakes | Bandai |