Activision Acquires Neversoft Entertainment

Activision Acquires Neversoft Entertainment is today’s business-side update, the sort of suit-and-spreadsheet news that still decides what games actually reach players.

The useful part: The acquisition reinforces Activision’s status as a major console game developer and strongly positions the company to take full advantage of the next generation of console game systems. Most recently, Neversoft developed Activision’s Tony Hawk is Pro Skater and Apocalypse and is currently in production on Spider-Man, which is slated for release in 2000. Under the terms of the agreement, Neversoft becomes a wholly owned subsidiary of Activision, Inc., and Neversoft shareholders received approximately 700,000 shares of Activision common stock. File it under the usual 1999 PC pile: interesting, crowded, and probably fighting five other releases for attention.