by David Radd on Monday, March 31, 2008
Capcom announced today that it is acquiring developer K2. Known in the West as the developers of the Tenchu series, K2 also helped with the development of Lost Planet. The agreement to acquire K2 is expected to be complete on May 1, with 201,720 Capcom shares issued to K2's stakeholders.
"Upgrading development activities, which is the core competence of Capcom, is essential to the successful execution of the company's growth strategy," reads a statement by Capcom. "K2 has a proven record as a reliable provider of game development services for Capcom. By making this company a wholly owned subsidiary, Capcom plans to make its game development activities more efficient and speedy. Capcom also believes that pursuing a business strategy based on closer ties with K2 will help increase the value of the entire Capcom Group."
"Capcom believes that making K2 a consolidated subsidiary will make it possible to allocate development resources more efficiently in response to shifts in market conditions," continues the statement. "This is expected to facilitate the strategic development of software and create synergies. As a result, Capcom believes this exchange of stock will help improve customer satisfaction and make the company even more competitive."
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