Press Release: 1996-09-13: Malofilm communications Acquires ReadySoft

This is an unaltered copy of a press release, for use as a primary source on Sega Retro. Please do not edit the contents below. Language: English Original source: www.readysoft.com (archived)

Ranks as One of Leading Entertainment Software Publishers in Canada

 Montréal, September 13 1996 - Malofilm communications Inc., one of Canada's leading integrated entertainment companies, has completed its third acquisition in the past month by acquiring ReadySoft Incorporate, or Toronto, a leader in the development and publishing of entertainment software in Canada. The acquisition is being financed through a combination of cash and 117,057 Class B Subordinate Voting shares of Malofilm Communications plus a potential earn-out payable in shares.

During the past few weeks, Malofilm Communications completed two other acquisitions. The first was MMI Multi Media Interactif Inc., a company specializing in the development and publishing of CD-ROM reference titles related to the world of sports, followed by the acquisition of Filmline International Inc., the fourth largest Canadian producer of theatrical feature films and television movies, series and mini-series in 1995.

"The addition of ReadySoft is one of Canada's largest and long established developers and publishers of entertainment software. Through the combination of strong licenses and cutting-edge technology, it has grown into an important player in the computer and video game industry. The company's initial success came with the release of DRAGON's LAIR on various platforms, with some 500,000 units sold worldwide. ReadySoft has built a network of distribution partners throughout the United States, Canada, Europe, Japan, Australia, the Middle East and South America. It also provides North American distribution for several Canadian, American and European developers.

ReadySoft's core business centers on animated action adventure games for interactive digital media. Its strategy is to publish on all leading desktop and set top platforms, which currently include CD-ROM for IBM PC and Macintosh, Sega Saturn and Sony PlayStation. Amoung other tiles ReadySoft has released are SPACE ACE, WRATH OF THE DEMON, ISHAR 3 GUY SPY AND ROBINSON'S REQUIEM. Current and upcoming releases include BRAIN DEAD 13, DRAGON'S LAIR II, KINGDOM: SHADOAN, THE MUSIC IN ME and DEUS.

David Foster, President of ReadySoft, will manage all the entertainment software publishing activities, which will be integrated with Malofilm Distribution's multimedia arm, as well as oversee certain development and production functions. Yves Dion, President of Malofilm Distribution, said he was very excited about acquiring ReadySoft's product lines. "We moved very quickly last year into the multimedia sector in Canada and the addition of ReadySoft's sales and marketing team will reinforce our position as one of the leading publishers of entertainment software titles in the country. As well, they will help us acquire the rights to third party products and give us greater access to distribution in the United States and abroad.

"Malofilm Communications Inc. is one of Canada's leading, integrated entertainment companies. It is involved in the development, production, distribution and international sales of theatrical, video, television and multimedia products. It is also the preeminent independent home video distributor in Canada. The Corporation has offices in Montréal, Toronto and Quebec City and its shares are listed on the Montréal Exchange and The Toronto Stock Exchange under the symbols MFM.A and MFM.B.

Contact:

Stephen N. Takacsy
Senior Vice-President and Chief Financial Officer

Malofilm communications Inc.

(514) 844-4555

David Novek
Novek Bélanger Communications

(514) 284-2323