Konami Acquires Hudson Soft
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Konami announced today that it had become the new majority stockholder of Hudson Soft. Konami, which already owned 45% of Hudson's stock, was compelled by Hudson to purchase 3 million new shares and raise its share of Hudson to 54%. Hudson, which is expected to report a record financial loss for the fiscal year, will no doubt be bolstered by this news.
The deal is expected to conclude on April 27, 2005. Konami will purchase the rest of the stock for 1.434 Billion Yen ($13.3 million U.S.), a relative bargain for the amount being acquired. Hudson is now considered a subsidiary of Konami, which will help conduct their reorganization.
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Konami announced today that it had become the new majority stockholder of Hudson Soft. Konami, which already owned 45% of Hudson's stock, was compelled by Hudson to purchase 3 million new shares and raise its share of Hudson to 54%. Hudson, which is expected to report a record financial loss for the fiscal year, will no doubt be bolstered by this news.
The deal is expected to conclude on April 27, 2005. Konami will purchase the rest of the stock for 1.434 Billion Yen ($13.3 million U.S.), a relative bargain for the amount being acquired. Hudson is now considered a subsidiary of Konami, which will help conduct their reorganization.
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