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Tradewest Games hints at upcoming IP lineup reveal
Martin Spiess has been busy the past few months, between raising €1 to buy Midway UK and France and resurrecting the long gone Tradewest Games moniker. The ex-Midway exec's acquisition of the two company branches went light on the details in the SEC filing, leaving us with a handful of questions for the recently re-branded company. We contacted Tradewest to find out exactly what the acquisition means for the future of the company, in terms of assets gained. "We`ve got a portfolio of [our] own IPs and will announce highlights from our line-up over the next weeks," a representative told Joystiq. And what does it mean when the filing says Mr. Spiess has acquired the UK and France offices, specifically? "This includes all of the companies assets ... that also means that Tradewest has direct access to two of Europe´s biggest markets for games products." Unfortunately, the rep couldn't tell us much more at the moment. And yes, we're still keeping our fingers crossed for Battletoads.
Midway UK and France offices bought for 1 euro (combined)
In a move that leaves us scratching our heads, ex-Midway Europe managing director Martin Spiess has purchased the Midway UK and France executive offices for a combined amount of one euro. According to the SEC filing, Mr. Spiess formed Spiess Media Holding UG to purchase the companies, in what MCV UK calls a "management buyout." Additionally, Midway Germany's general manager, Uwe Fürstenberg, has purchased the German branch for an undisclosed amount.The kicker on all of these business dealings? In buying the UK and France offices, Spiess has tied his company to "a payment of approximately One Million Seven Hundred Thousand Dollars ($1,700,000) from [Midway Games Limited] to [Midway USA]" at the "closing of transactions." Spiess has 90 days to turn around the Midway-branded stock. Good luck, Mr. Spiess! From what we've seen of Midway over the past six months, you're going to need it.[Via MCV UK]
