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10tacle and TGC cancel acquisition deal

10tacle Studios AG has revealed its intent to cancel the planned acquisition of Berlin-based development and marketing firm The Games Company Worldwide (TGC). The original acquisition plan was announced in December 2007.

10tacle, famously known for the car simulation series GTR, has decided to cancel the acquisition so it may continue to restructure and better focus future business initiatives.

"With the reverse transaction we have taken a step in the interests of all parties involved," The Games Company CEO Markus Malti commented to Games Industry. "TGC can continue its successful work and 10tacle Studios AG are free to newly position their company strategically as planned."

[via Games Industry]

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