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Japanese Toymaker Bandai Acquires Game Developer Namco for $1.7 Billion

Authored by Mark Hefflinger on May 3, 2005 - 3:21am.
Tokyo -- Japanese toymaker Bandai announced on Tuesday that it has acquired Japanese video game publisher Namco, in a deal valued at $1.7 billion. Bandai creates action figures for the Power Rangers, Gundam and Digimon, as well as Tamagotchi virtual pets, while Namco has developed game franchises including "Pac-Man," "Tekken" and "Street Racing Syndicate." Bandai president Takeo Takasu will become president of the new company, Namco Bandai Holdings, while Namco vice chairman Kyushiro Takagi will be chairman. The merged company sees opportunities for Namco to create games based on Bandai toys.
tags: Games | Japan | Namco | Toymaker | Bandai |

Toymaker Jakks Pacific Faces Shareholder Suit Over WWE Bribery Charges

Authored by Mark Hefflinger on November 17, 2004 - 5:02am.
Bala Cynwyd, Pa. -- A shareholder class action lawsuit has been filed against toymaker Jakks Pacific, in connection with the company's alleged engagement in bribery and fraud in order to obtain a license to create video games with World Wrestling Entertainment (WWE). The shareholder action, filed by the law firm of Schiffrin & Barroway, LLP, argues that the company's stock and shareholders have been negatively affected by the alleged bribery scheme; shares of Jakks Pacific have fallen from $24.15 before the WWE lawsuit was filed to under $13 per share, and are now hovering just above $17 per share.
tags: WWE | Shareholder | Toymaker | Jakks |