Id Software turned down Activision takeover bid

Iria · Sep 28, 2005, 04:51 AM

The Wall Street Journal reports that the number-two third-party publisher offered the developer $105 million; Adrian Carmack forced out.

Once again, a nasty legal battle has pulled back the curtain of secrecy that shrouds major game-industry deals. In this case, the deal didn't go through--but if it had, it could have been one of the most talked about of 2004.

Today's edition of the Wall Street Journal ran an article based on recent court documents filed by Adrian Carmack against the company he partly owns, id Software. According to the financial daily, Carmack--who is not related to id Technical Director John Carmack--is claiming that he was forced to resign his position as a director of and artist at the studio earlier this year. Previously, it was only known that he had "retired," presumably voluntarily.

However, it appears Carmack's parting with id was anything but amicable. According to the Journal, the onetime Doom 3 designer, who owns 41 percent of id, was "fired" by the other four co-owners after refusing a buyout offer of $20 million. Under the terms of a contract he is now seeking have declared void, Carmack will now have to sell his shares back to id for $11 million.

While Carmack won't exactly be lining up for food stamps if he receives the $11 million, it is a mere fraction of what he could receive if id Software is ever bought. And, as revealed in the documents, it was nearly bought last year, when Activision contemplated a $105 million takeover bid of the Texas-based developer.
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Read More / Source: GameSpot

CDsDontBurn · Sep 28, 2005, 07:04 AM

and UBI Soft is buying EA, or is that the other way around?

Drakon · Sep 28, 2005, 04:36 PM

EA is trying to buy Ubisoft

God, I hate EA!

CDsDontBurn · Sep 28, 2005, 04:39 PM

EA = soon to be monopoly of game industry

unless some no name company pulls an nVidia when they bought out 3Dfx

Sep 28, 2005, 04:51 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Id Software turned down Activision takeover bid The Wall Street Journal reports that the number-two third-party publisher offered the developer $105 million; Adrian Carmack forced out. Once again, a nasty legal battle has pulled back the curtain of secrecy that shrouds major game-industry deals. In this case, the deal didn't go through--but if it had, it could have been one of the most talked about of 2004. Today's edition of the Wall Street Journal ran an article based on recent court documents filed by Adrian Carmack against the company he partly owns, id Software. According to the financial daily, Carmack--who is not related to id Technical Director John Carmack--is claiming that he was forced to resign his position as a director of and artist at the studio earlier this year. Previously, it was only known that he had "retired," presumably voluntarily. However, it appears Carmack's parting with id was anything but amicable. According to the Journal, the onetime Doom 3 designer, who owns 41 percent of id, was "fired" by the other four co-owners after refusing a buyout offer of $20 million. Under the terms of a contract he is now seeking have declared void, Carmack will now have to sell his shares back to id for $11 million. While Carmack won't exactly be lining up for food stamps if he receives the $11 million, it is a mere fraction of what he could receive if id Software is ever bought. And, as revealed in the documents, it was nearly bought last year, when Activision contemplated a $105 million takeover bid of the Texas-based developer. __________ Read More / Source: GameSpot

Sep 28, 2005, 07:04 AM	#2
CDsDontBurn Lurking DriverHeaven Join Date: May 2003 Location: Southern California Posts: 22,802 Rep Power: 235 System Specs	and UBI Soft is buying EA, or is that the other way around? __________________ Her First Day \| A year later

Sep 28, 2005, 04:39 PM	#4
CDsDontBurn Lurking DriverHeaven Join Date: May 2003 Location: Southern California Posts: 22,802 Rep Power: 235 System Specs	EA = soon to be monopoly of game industry unless some no name company pulls an nVidia when they bought out 3Dfx __________________ Her First Day \| A year later

Sep 28, 2005, 04:36 PM	#3
Drakon DriverHeaven Extreme Member Join Date: Jun 2004 Location: Floatin'... Posts: 4,957 Rep Power: 0	EA is trying to buy Ubisoft God, I hate EA!