Press release: 1997-01-23: Sonic The Hedgehog Joins Power Rangers in Sega Bandai Merge
From Sega Retro
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Original source: Sega.com (archived)
SONIC THE HEDGEHOG JOINS POWER RANGERS IN SEGA BANDAI MERGER REDWOOD CITY, Calif., (January 23, 1997) -- Sega of America today reported that its parent company, Sega Enterprises, Ltd., and Bandai Company, Ltd., announced earlier today in Tokyo that the two companies plan to merge to form the global leader in interactive entertainment-related businesses. The new company, called Sega Bandai, Ltd., is planned to merge on October 1, 1997. Sega is best known in the video game industry for its blue mascot character, Sonic the Hedgehog. Bandai popularized the Power Rangers action figurines. Sega and Bandai have complementary strengths which, when combined, will create a single company with expertise in all aspects of entertainment, including video game systems, console and PC interactive software, toys, music, TV and film properties, arcade machines, and amusement theme parks, as well as related licensing businesses. The Sega group of companies will provide leading edge entertainment technologies, including digital content, virtual reality and computer graphics, while Bandai will contribute its expertise in character development, merchandising and visual/music technologies. The new company will also benefit from the information technologies of the CSK Group, of which Sega is a key entity. The new company's combined net sales is over $5.6 billion U.S. dollars. Sega Bandai will benefit from the merger in all areas of its business, including capital, personnel, research and development, technology, marketing and content development. As a result, its competitive position in the global market will be strengthened, as the merger will allow Sega Bandai to venture into a wider range of business opportunities and explore markets for all ages of consumers. Under the agreement, Sega is the surviving company; Bandai is the dissolving company. Bandai shareholders will receive 0.76 shares of Sega Bandai stock for every one share they hold in Bandai. The company will occupy Sega's headquarter offices in Tokyo. Heading the company are: - Isao Okawa, representative director and chairman - Hayao Nakayama, representative director, vice chairman and CEO - Makoto Yamashina, representative director, president, COO Sega of America is the arm of Tokyo, Japan-based Sega Enterprises Ltd. responsible for the development, marketing and distribution of Sega videogame systems and videogames in the Americas. Sega Enterprises Ltd. is a nearly $3.6 billion company recognized as the industry leader in interactive digital entertainment media, and is the only company that offers interactive entertainment experiences both inside and outside the home.