Investment in Interplay
Interplay Entertainment Corp., one of the Southland’s largest computer-game makers, said French software developer Titus Interactive plans to invest an additional $25 million in the financially troubled company, in a deal that would give Titus a controlling interest in Interplay. In March, Titus acquired a 12% stake in Interplay for $10 million, picking up 2.5 million shares at $4 each. Titus said Wednesday that it plans to pay $4 a share for an additional 6.25 million Interplay shares. That’s nearly double Interplay’s Wednesday closing stock price of $2.06 on Nasdaq. As part of the deal, Titus Chairman Herve Caen would become Interplay president; Interplay founder Brian Fargo would remain chairman and chief executive. Interplay officials declined to say whether the deal will lead to layoffs.