View source for Press Release: 2001-06-01: Climax eats up Syrox Developments

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<pre>1st June 2001, London. UK

Climax Group today announced that it has acquired London-based developer Syrox Developments in an undisclosed equity and cash deal. The move sees the development studio become a part of the ever-expanding Climax Group, a company which is rapidly becoming a major player in today's interactive entertainment industry.

Founded in 1993, Syrox Developments is located in offices in Kingston-upon-Thames and employs 16 people. Headed by Managing Director Dominic Wood and Technical Director Mark Gordon, the company specialises in handheld and multiformat console development and enjoys approved developer status for Sony PlayStation, Nintendo 64 and Game Boy Color. The studio also brings expertise in web game and multiplayer PC development to the Climax knowledge-base. Having worked on character-based licenses, the Syrox portfolio includes: Woody Woodpecker - Destruction Derby (Universal Studios Interactive/Konami), Asteroids (Activision) and Disney's The Lion King (Disney Interactive). The company's official remake of Asteroids sold over one million units across four formats.

"This deal not only allows Climax access to the skills and experience that our London team possesses," comments Syrox MD Dominic Wood, "it also allows us to learn from them. What on paper is an acquisition is in reality a partnership. We have always valued our independence as a developer, and in joining Climax we will be able to retain it. "The games industry is increasingly becoming more cut-throat and this is a good deal for everybody concerned."

"With the addition of Syrox to our family of internal studios," adds Climax CEO Karl Jeffery, "we continue our commitment to expansion and development. What we are buying is not only manpower, but talent, creativity and experience. Syrox's track record with licenses is excellent and we will be drawing upon that ability. But they also have expertise with web and multiplayer content and this fits in perfectly with our plans for exploring new media and developing our own IP."</pre>