Private Division Acquires Developer Roll7

Rhea-AI Summary

Private Division, a publishing label of Take-Two Interactive (NASDAQ: TTWO), has acquired the London-based video game developer Roll7, known for the OlliOlli series. Roll7 is currently developing OlliOlli World, set to launch in Take-Two’s fiscal fourth quarter ending March 31, 2022. The acquisition aims to enhance Private Division's development capabilities and support Roll7's upcoming projects. The terms of the deal were not disclosed. This marks an important step in expanding Private Division's portfolio of creative talent in the gaming industry.

Positive

• Acquisition of Roll7 enhances development talent and creativity for Private Division.
• Roll7 is known for its successful OlliOlli series, promising future revenue opportunities.
• The partnership allows Roll7 to continue its growth and creativity under Private Division's support.

Negative

• Terms of the acquisition were not disclosed, leading to uncertainty about the deal's impact.
• -

First studio acquisition for Private Division brings wealth of development talent, creativity, and style of beloved OlliOlli creators to label

NEW YORK--(BUSINESS WIRE)-- Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), today announced that they have acquired video game developer Roll7. Based in London, the BAFTA award-winning studio is currently developing OlliOlli World to be published by Private Division and planned for launch this winter during Take-Two’s fiscal fourth quarter ending March 31, 2022. Terms of the deal were not disclosed.

Private Division, a publishing label of Take-Two Interactive Software, Inc. (NASDAQ: TTWO), today announced that they have acquired video game developer Roll7. Based in London, the BAFTA award-winning studio is currently developing OlliOlli World to be published by Private Division and planned for launch this winter during Take-Two’s fiscal fourth quarter ending March 31, 2022. Terms of the deal were not disclosed. (Graphic: Business Wire)

Founded in 2008 by Simon Bennett, John Ribbins, and Tom Hegarty, Roll7 is a multi-award-winning studio that is best known for the OlliOlli series. The studio is currently working on the upcoming OlliOlli World and have additional unannounced projects in development. Private Division will support these future endeavors and empower Roll7 to continue creating their signature “flow state gaming” experiences that embody their distinctive style and ability to achieve commercial and critical success.

“We’re thrilled to welcome Roll7 to the Private Division family,” said Michael Worosz, Executive Vice President and Head of Private Division. “As a team passionate about action sports ourselves, seeing how Roll7 combines the thrill of competition with the zen of achieving flow-state in a videogame is remarkable, and we can’t wait to show the world this phenomenon with our release of OlliOlli World this winter.”

“Private Division has been an incredible publishing partner for OlliOlli World, and we’re elated to continue to grow as a studio as part of the label,” said Simon Bennett, Co-CEO at Roll7. “Private Division has empowered our amazing team to raise the bar on our creativity and scope for OlliOlli World. Joining the label puts us in a great position to continue to grow and to set our sights on achieving our ambition to become a pre-eminent global videogames developer."

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Private Division is a publishing label of Take-Two Interactive Software, Inc. (NASDAQ:TTWO).

All trademarks and copyrights contained herein are the property of their respective holders.

About Private Division

Private Division is a developer-focused publisher that partners with the finest creative talent in the video game industry, empowering studios to develop the games that they are passionate about creating, while providing the support that they need to make their titles critically and commercially successful on a global scale. The Label publishes the Kerbal Space Program franchise, Ancestors: The Humankind Odyssey from Panache Digital Games, The Outer Worlds from Obsidian Entertainment, Disintegration from V1 Interactive, and OlliOlli World from Roll7, with future unannounced projects in development with Moon Studios and other esteemed independent developers. Private Division continues to build its internal studio capacity, with Roll7 joining Intercept Games as internal developers for the Label. Private Division is headquartered in New York City with offices in Seattle, Las Vegas, Munich, and Singapore. For more information, please visit www.privatedivision.com.

About Roll7

Roll7 is a BAFTA and multi-award-winning video game development studio based in London. Since 2008, the studio has re-defined genres, creating award winning games that engage players with remarkable worlds, stylish visuals and intuitive, deep mechanics. The studio has been run as a distributed operation since 2015 and as such is a hotbed of the most remarkable development talent from around the UK and the world. Roll7 is best known for the OlliOlli Series, NOT A HERO, and Laser League.

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. We develop and publish products principally through Rockstar Games, 2K, Private Division, and T2 Mobile Games. Our products are designed for console systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at www.take2games.com.

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," “should,” "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: the uncertainty of the impact of the COVID-19 pandemic and measures taken in response thereto; the effect that measures taken to mitigate the COVID-19 pandemic have on our operations, including our ability to timely deliver our titles and other products, and on the operations of our counterparties, including retailers and distributors; the effects of the COVID-19 pandemic on both consumer demand and the discretionary spending patterns of our customers as the situation with the pandemic continues to evolve; the risks of conducting business internationally; the impact of reductions in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of potential inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; the timely release and significant market acceptance of our games; the ability to maintain acceptable pricing levels on our games; and risks associated with international operations.

Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211115005341/en/

Brian Roundy

Director

Marketing and Communications

Private Division

(646) 536-2936

press@privatedivision.com

Alan Lewis (Corporate Press)

Vice President

Corporate Communications & Public Affairs

Take-Two Interactive Software, Inc.

(646) 536-2983

Alan.Lewis@take2games.com

Source: Take-Two Interactive

FAQ

What is the significance of Take-Two's acquisition of Roll7?

The acquisition enhances Private Division's creative capabilities and aims to support Roll7's upcoming game releases.

What game is Roll7 currently developing for Private Division?

Roll7 is developing OlliOlli World, which is planned for release in Take-Two’s fiscal fourth quarter ending March 31, 2022.

How does the acquisition affect Take-Two Interactive's stock (TTWO)?

The acquisition is expected to strengthen Private Division's portfolio, potentially leading to increased revenue and growth opportunities.

What are the future plans for Roll7 after joining Private Division?

Roll7 intends to expand its development efforts and pursue additional unannounced projects with the support of Private Division.

When was the announcement of the acquisition made?

The acquisition was announced on November 15, 2021.