The Truth at Last: Sammy Buys Sega in $1.5 Billion Take-over
After months of denials, Sega is assimilated by pachinko giant.
After months and months of Sega’s PR department refuting allegations that foretold a takeover by pachinko giant Sammy, it has been revealed today that a full buy-out of Sega by Sammy has been finalised.
In a deal that Sega executives could do nothing about, Sammy will acquire Sega for $1.4 billion, it was revealed today, setting up a holding company, Sega Sammy Holdings Inc, of which Sammy will control over 95%.
Each share of Sammy will be swapped for one share of Sega Sammy, while each share of Sega will be swapped for 0.28 share.
As Reuters explains, “The two companies aim to close the deal on October 1 with Sammy Chief Executive Hajime Satomi heading the new company. The two firms' respective stocks will be withdrawn from the Tokyo Stock Exchange on September 27.”
Sammy’s now-infamous Satomi said at the press conference held in Japan hours ago that he hoped to boost Sammy’s arcade presence by using Sega’s leading brands in interactive entertainment.
At time of going to press, we have no idea as to how this news will impact on Sega’s home and consumer output. We are awaiting an English version of today’s press release, though it is unknown as to whether developmental and operational reshuffles or adjustment possibilities will be outlined.
Whatever happens, we’ll let you know right here.
In a deal that Sega executives could do nothing about, Sammy will acquire Sega for $1.4 billion, it was revealed today, setting up a holding company, Sega Sammy Holdings Inc, of which Sammy will control over 95%.
Each share of Sammy will be swapped for one share of Sega Sammy, while each share of Sega will be swapped for 0.28 share.
As Reuters explains, “The two companies aim to close the deal on October 1 with Sammy Chief Executive Hajime Satomi heading the new company. The two firms' respective stocks will be withdrawn from the Tokyo Stock Exchange on September 27.”
Sammy’s now-infamous Satomi said at the press conference held in Japan hours ago that he hoped to boost Sammy’s arcade presence by using Sega’s leading brands in interactive entertainment.
At time of going to press, we have no idea as to how this news will impact on Sega’s home and consumer output. We are awaiting an English version of today’s press release, though it is unknown as to whether developmental and operational reshuffles or adjustment possibilities will be outlined.
Whatever happens, we’ll let you know right here.
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Comments
ohms 18 May 2004 12:00
1/7
so will SEGA now be the first yakuza run videogaming company ?
Stryfe01 18 May 2004 14:44
2/7
not the first. remember Sammy was an independent game company also. So now two has become one whole. Let's not forget that Nintendo also has some shady underlinings....
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config 18 May 2004 14:51
3/7
Stryfe01 wrote:
>Let's not forget that Nintendo also has
>some shady underlinings....
...a very dubious background in playing cards?
:)
G.
>Let's not forget that Nintendo also has
>some shady underlinings....
...a very dubious background in playing cards?
:)
G.
almondVanHelsing 18 May 2004 17:49
4/7
This is good thing for readers of SPOnG, now we don't have to read "Sammy are evil, look what they make Sega do" stories.
The big question is, what is company called "Sega Sammy Holdings Inc", should have a better name.
Samga
Seggy
Who else has ideas?
The big question is, what is company called "Sega Sammy Holdings Inc", should have a better name.
Samga
Seggy
Who else has ideas?
scanman 18 May 2004 18:18
5/7
almondVanHelsing wrote:
>This is good thing for readers of SPOnG, now we
>don't have to read "Sammy are evil, look what
>they make Sega do" stories.
Yeah some body has a big bee in there bonnet about this takeover and kept on banging away at it - silence at last - I dont care for sega. I only every enjoyed there arcade games and never really like the mastersystem or megadrive.
>The big question is, what is company called "Sega
>Sammy Holdings Inc", should have a better name.
"Sammy Holding Segas Inc"
Does exactly what it says on the tin
Ron
>This is good thing for readers of SPOnG, now we
>don't have to read "Sammy are evil, look what
>they make Sega do" stories.
Yeah some body has a big bee in there bonnet about this takeover and kept on banging away at it - silence at last - I dont care for sega. I only every enjoyed there arcade games and never really like the mastersystem or megadrive.
>The big question is, what is company called "Sega
>Sammy Holdings Inc", should have a better name.
"Sammy Holding Segas Inc"
Does exactly what it says on the tin
Ron
NiktheGreek 18 May 2004 21:41
6/7
scanman wrote:
>almondVanHelsing wrote:
>This is good thing
>for readers of SPOnG, now we
>don't have to read
>"Sammy are evil, look what
>they make Sega do"
>stories.
>Yeah some body has a big bee in there
>bonnet about this takeover and kept on banging
>away at it - silence at last - I dont care for
>sega. I only every enjoyed there arcade games and
>never really like the mastersystem or
>megadrive.
It appears that you "never really like" correct grammar, either. I probably shouldn't be one to judge, though.
Anyhow, it's natural there'd be talk about it - Sega has been one of the most talked-about companies in gaming for over a decade now, from Saturn/Playstation battle to the failed Bandai merger of 1996, the Dreamcast to the Sammy issue. If you're not interested in the Sega news, maybe you should try to avoid reading it?
>almondVanHelsing wrote:
>This is good thing
>for readers of SPOnG, now we
>don't have to read
>"Sammy are evil, look what
>they make Sega do"
>stories.
>Yeah some body has a big bee in there
>bonnet about this takeover and kept on banging
>away at it - silence at last - I dont care for
>sega. I only every enjoyed there arcade games and
>never really like the mastersystem or
>megadrive.
It appears that you "never really like" correct grammar, either. I probably shouldn't be one to judge, though.
Anyhow, it's natural there'd be talk about it - Sega has been one of the most talked-about companies in gaming for over a decade now, from Saturn/Playstation battle to the failed Bandai merger of 1996, the Dreamcast to the Sammy issue. If you're not interested in the Sega news, maybe you should try to avoid reading it?
crazygracieuk 18 May 2004 21:53
7/7
They could call the new company Saggy?