Take-Two Interactive today announced that it has reached an agreement with the Synnex Corporation to sell Jack of All Games. The IT systems and software company will purchase the distributor for $36.50 million in cash and up to $6.75 million more based on certain milestones. Synnex will now distribute Take-Two's various titles in North America.
"The sale of Jack of All Games is consistent with our stated intention to focus our resources on our core business strategy - delivering globally the most innovative and creative interactive entertainment products,” said Take-Two CEO Ben Feder. “We believe that Jack of All Games will prove to be highly complementary to Synnex' successful distribution business and will benefit from Synnex' expertise in this sector. We are pleased to continue to work with Synnex and Jack of All Games going forward."
This news comes after Take-Two recently posted a loss of $138 million dollars for the year. Jack of All Games was originally purchased by Take-Two in 1998 and has since distributed all of the company's titles in North America for their variety of brands, including Rockstar Games and 2K Sports.
