Infogrames to Acquire Shiny Entertainment

Infogrames Inc. has agreed to buy game developer Shiny Entertainment Inc. from financially strapped Interplay Entertainment Corp. for $47 million in cash and notes. The deal gives French-based Infogrames rights to make video games based on the film "The Matrix" and its sequels. Shiny President David Perry will join Infogrames. Interplay, which recently ousted its founder, has reported 14 consecutive quarterly losses.

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