Zoo Digital Group PLC
03 March 2004
ZOO Digital Group plc
('ZOO' or 'the Company')
ZOO DIGITAL ACQUIRES HOTHOUSE
ZOO Digital Group plc ('ZOO'), the entertainment technology and games publishing
company, today announced that its subsidiary ZOO Digital Publishing Limited
('ZDPL') has acquired the trade and assets of Hothouse Creations Limited
('Hothouse') from Grant Thornton, the receivers, for a cash consideration of
£75,000 payable upon completion.
The acquisition gives ZOO the IP, assets and all development contracts currently
owned by Hothouse and fits well with ZOO's business in the publishing of DVD
titles. It is expected that the operation will be cash positive in the year and
that the Group will generate significant revenues as a result of the acquisition
with additional royalties in 2005 from the products being developed dependent on
sales success.
Hothouse is a computer games developer based in Bristol and has developed a
number of best selling computer and video games that have sold in excess of 5
million copies worldwide since its formation in 1996, including Who Wants To Be
Millionaire on Playstation 1 and Pop Idol and American Idol on PS2. Hothouse
also has relationships with television media companies such as Freemantle,
Celador and Sky television. Hothouse is currently developing an action
management game 'Crime Life' on PS2, Xbox and PC for Konami of Europe GmbH, due
in second quarter 2005, and is also completing Xbox and PC versions of Pop Idol
and American Idol.
The company will continue to operate from Bristol and be branded as Hothouse
Creations. A DVD production team will be established within the current
workforce to produce at least one title this year and the current management
team will continue to oversee the operation. ZOO previously worked with
Hothouse, who developed the original GameBoy Advance version of Who Wants To Be
A Millionaire?
The acquisition secures an ongoing relationship with Konami and the development
of the Crime Life franchise, which has yet to be licensed into North America.
Work will also be continued with Freemantle on the Pop Idols franchise, which
will include opportunities for taking Pop Idol and American Idol to the
interactive DVD platform using DVD-EXTRA as a development tool.
ZDPL has purchased the trade and assets of Hothouse from the receiver and
assumes no liabilities in respect of Hothouse Creations Limited.
Commenting on the acquisition, Ian Stewart, CEO said:
'We are very pleased to welcome Hothouse into the Group and having worked with
them in the past we know how well managed and professional the company is. This
acquisition brings additional development expertise for leading gaming platforms
into the Group and combines it with significant experience in working with major
properties such as Pop Idols, American Idol and Who Wants To Be A Millionaire?
Acquiring Hothouse also enables us to strengthen DVD production and look at
mobile gaming opportunities as well as being able to tap into the lucrative
North American market and help us accelerate the introduction of Interactive DVD
Games to the major markets.
The establishment of our ZOOtech subsidiary is also progressing well and
DVD-Extra Studio is on track for the launch at the National Association of
Broadcasters event in Las Vegas on April 17th.'
- ends -
For further information please contact:
Ian Stewart, CEO
Zoo Digital Group plc
0114 241 3700
James Chandler/Grace Marriner
Beattie Financial
020 7398 3300
Notes to Editors
ZOO Digital Group Plc (www.zoodigitalgroup.com)
ZOO Digital Group, the DVD technology and games publishing company, was founded
in 1999 by Ian Stewart (founder of Gremlin Interactive plc). In April 2001 it
reversed into AIM listed technology company Kazoo3D. ZOO has strong expertise
in two areas - DVD authoring software and games publishing.
About ZOOtech Ltd
ZOOtech has developed a revolutionary software authoring system (content
management) called DVD-EXTRA for producing highly interactive DVD-Video discs
that will play on any standard set-top consumer DVD player. DVD-Extra unlocks
the hidden interactive capabilities that exist in every player, and allows
developers to produce titles that exhibit many of the properties of multimedia
CD-ROM on a standard, unmodified, set-top device. ZOO is making its technology
available in the form of an authoring system called DVD-Extra Studio on a
license basis. This will allow content owners not only to substantially reduce
the cost of developing features on a DVD disc but will also allow the creative
community - from Hollywood to corporate and educational institutions - to add
features and produce new products currently not possible for economic or
technical reasons. 60 DVD and multimedia developers are currently part of a
DVD-ExtraTM 'Early-Adopters' programme including BBC Worldwide, Disney and
Warner Bros (GDMX).
About ZOO Digital Publishing Ltd
ZOO Digital Publishing Ltd is a leading publisher of interactive entertainment
software. ZDPL develops, licenses and publishes a wide range of quality titles
predominantly on GBA, PS1, PS2, PC and DVD platforms including Medal of Honor
Underground, Tiger Woods PGA Tour Golf, Premier Manager, Who Wants To Be A
Millionaire? (using the DVD-EXTRA technology for the multi territory DVD
products) and Sim City 2000. Further information about ZDPL and its products can
be found at: http://www.zoodigitalpublishing.com/
This information is provided by RNS
The company news service from the London Stock Exchange
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