RealNetworks Acquiring GameTrust For $50 Million
RealNetworks, Inc. (NASDAQ:RNWK) is known for its digital media software that revolves around music.Â RealNetworks’ develops popular music software, Rhapsody.Â RealNetworks’ market capitalization as of right now is about $1 billion and they’re planning to acquire a small gaming company called GameTrust for under $50 million.Â GameTrust develops flash games that revolve around contests and multiplayer abilities.
GameTrustÂ was founded in 2002 by Adeo Ressi.Â Adeo sold a company he started in 1994 called Total New York Inc. to AOL.Â AOL rolled Total New York into AOL Digital Cities.Â Adeo also started methodfive, inc., brought in $2 million from Pricewaterhouse Coopers and then sold the company to Xceed for $88 million.
Some of RealNetworks’ previous acquisitions inlcude Zylom Media Group B.V., WiderThan Co., Ltd. and Atravia Latin America Ltda. in 2006.Â And RealNetworks acquired Sony NetServices in 2007.Â Sony NetServices was a joint venture between Sony DADC and Sony Europe.
[Information Source: Paidcontent]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry