It's about time someone got this over with.
Sammy Corporation Purchases Stake in Sega Corporation
CARLSBAD, Calif. - December 8, 2003 - Sammy Holding Company, Inc. today announced that parent company Sammy Corporation, in a continuing effort to diversify its global entertainment holdings, has acquired the shares of Sega Corporation held by CSK Corporation.
The investment gives Sammy Corp. 39,148,600 additional shares, or a majority stake of 22.4%, in Sega Corporation. The two companies have been collaborating on various projects. With this acquisition of the shares, Sammy plans to solidify its business relationship with Sega.
"Sammy is a strong company financially and is looking to pursue strategic investment opportunities," said John Rowe, President and Chief Operation Officer of Sammy Holding Company, Inc. "Now that we have taken yet another step toward becoming a global force in entertainment, we look forward to finding mutually beneficial ways to work with Sega."
Sammy Corp. is growing its pachinko and pachislot business as it continues to diversify into other areas of entertainment. Sammy Holding oversees Sammy Corp.'s business in the US, Canada, and Europe.