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GT Interactive
Type Predecessor to Atari, Inc.
Founded 1993
Founder Ron Chaimowitz[1] and the Cayre Family
Headquarters Flag of the United States New York, NY, USA
Area served World
Key people Cayre Family and CEO Ron Chaimowitz
Industry Interactive Entertainment
Products Unreal Tournament, Mortal Kombat III, Doom II, Quake
Revenue ▼$408 million (1999)[2]
Operating income ▼$-267 million (1999)[2][3]
Net income ▼$-254 million (1999)[3][2]
Owner NASDAQ traded
Employees 1,168 (August, 1999) [4]
Subsidiaries Humongous Entertainment, Legend Entertainment, Reflections Interactive, Cavedog Entertainment

Founded in 1993, GT Interactive Software Corporation (Good Times[1] or GTI[1]) was an American video game publisher and distributor, which later became also a developer of video games and PC games. The company that currently bears the Atari Inc name was founded in 1993 under the name GT Interactive. Events March &mdash In Sweden, the Swedish Video game Magazine Super PLAY (SP starts An entrepreneur is a person who has possession over a company enterprise, or Venture, and assumes significant accountability for the inherent risks and the outcome The City of New York The United States of America —commonly referred to as the For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" GameWeek Magazine was a weekly Video game magazine that was made by Cyberactive Media Group Inc In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need Unreal Tournament is a First-person shooter Video game co-developed by Epic Games and Digital Extremes. Doom II Hell on Earth is a First-person shooter Video game created by Id Software. Quake is a First-person shooter Computer game that was released by Id Software on June 22, 1996. In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services In financial and business Accounting, earnings before interest and taxes (EBIT is a measure of a firm's profitability that excludes interest and income tax expenses Net income is equal to the Income that a firm has after subtracting costs and Expenses from the total Revenue. Ownership is the state or fact of exclusive rights and control over Property, which may be an object, land/real estate, Intellectual property The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American Stock exchange. Employment is a Contract between two parties, one being the employer and the other being the employee. A subsidiary, in business matters is an entity that is controlled by a bigger and more powerful entity Humongous Inc is an American Video game developer. The company is known for its line of educational sports games for Children that Atari owns from Legend Entertainment was an American developer of Computer games The company was founded in 1989 by Bob Bates and Mike Verdu after the end Ubisoft Reflections Ltd, formerly known as Reflections Interactive or Reflections, is a Video game developer based in Newcastle, UK Cavedog Entertainment, or Cavedog, was a Video game developer based in Bothell Washington. The United States of America —commonly referred to as the A video game is a Game that involves interaction with a User interface to generate visual feedback on a video device. A personal computer Game (also known as a computer game or simply PC game) is a Video game played on a Personal computer, rather

GT Interactive ceased to exist in December 1999 when Infogrames Entertainment SA (IESA) took a controlling stake and renamed the company Infogrames, Inc. Infogrames Entertainment SA ( IESA) ( is an international Holding company headquartered in Villeurbanne, Lyon, France. . [5] In 2003, Infogrames Inc. changed its name to Atari Inc.[6]

Contents

History

1993 - GT Interactive is founded

GT Interactive was founded in 1993 as a division of Good Times Home Video, a video-tape distributor owned by the Cayre family. Atari Inc was a video game and computer company founded in 1972 by Nolan Bushnell and Ted Dabney Year 1993 ( MCMXCIII) was a Common year starting on Friday (link will display full 1993 Gregorian calendar) First year's revenue reached $10. 3 million. [7]

Doom was released, it sold 2. Doom (officially cased DOOM) is a 1993 Computer game by Id Software that is a landmark title in the First-person shooter 9 million copies. [8] But GT Interactive didn't publish Doom exclusively. Doom (officially cased DOOM) is a 1993 Computer game by Id Software that is a landmark title in the First-person shooter

1994 - 880% revenue growth

GT Interactive revenue soared 880% and reached $101 million on its second year of existence and profits reached $18 million. [9] GT Interactive's partnership with id Software scored another hit with Doom II: Hell on Earth, which was released in October and sold over 2 million copies. id Software (ɪd officially is an American computer game developer based in Mesquite, Texas, a suburb of Dallas. Doom II Hell on Earth is a First-person shooter Video game created by Id Software.

1995 - GT Interactive's IPO

In February, GTIS obtained the publishing rights to games based on Mercer Mayer property, which included Little Critter and Little Monster. Mercer Mayer (born December 10, 1943 in Little Rock Arkansas) is an American children's book writer and illustrator Little Critter is an Anthropomorphic animal character created by Mercer Mayer. Little Monster is an Anthropomorphic character created by Mercer Mayer. [10] GT Interactive began to set up displays at K-Mart and Wal-Mart for low cost software. Kmart (sometimes spelled as " K-Mart " is a chain of department stores in the United States, Puerto Rico, the U Wal-Mart Stores Inc (or Walmart as written in its new logo is an American public corporation that runs a chain of large discount department stores [11]

GTIS signed with Wal Mart an exclusive software supplier agreement,[12], that meant according to UBS Securities analyst Michael Wallace: "All software developers have to deal with GT if they want to sell in a Wal-Mart. Wal-Mart Stores Inc (or Walmart as written in its new logo is an American public corporation that runs a chain of large discount department stores "[7]

In December, GT Interactive debuted on Nasdaq, its IPO raised $140 million and was one the biggest IPOs of the year only losing to the IPO of Netscape. The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American Stock exchange. Netscape Communications (formerly known as Netscape Communications Corporation and commonly known as Netscape) is an American computer services company [13][14]GT Interactive Software Corporation was listed on Nasdaq as GTIS. The NASDAQ (acronym of National Association of Securities Dealers Automated Quotations) is an American Stock exchange. [15]

GT Interactive offered 10 million shares to the public at $14 each. [14] During GT Interactive's IPO, Appellee Cayre sold more than 1. 4 million shares, 9. 2% of his shares, for a $20 million return. [14]

GTIS reported a strong revenue growth of 134% in the year to $234. 4 million, but in the first sign of trouble ahead profits increase a meager 23% to $22. 6 million. [4]

1996 - Humongous Entertainment is acquired

In January, GT Interactive obtained the publish rights for the highly anticipated Quake from id Software. Quake is a First-person shooter Computer game that was released by Id Software on June 22, 1996. id Software (ɪd officially is an American computer game developer based in Mesquite, Texas, a suburb of Dallas. [16] In February, GTIS and Target signed an agreement in which GT Interactive became the primary consumer software supplier to all Target's 675 stores. Target Corporation ( is an American Retailing company that was founded in Minneapolis Minnesota in 1902 [17]

In June 1996 GTIS acquired WizardWorks, which developed Deer Hunter, for 2. WizardWorks Software was a Video game developer and publisher located in Minneapolis MN. 4 million shares and FormGen, which had the publishing rights of Duke Nukem, for 1 million shares[15] or $17 million. FormGen Corporation was a Shareware and Computer game company that was founded in 1987 by Randy MacLean and James Perkins [18]

Quake was also released in June by GT Interactive for PC game. Quake is a First-person shooter Computer game that was released by Id Software on June 22, 1996. A personal computer Game (also known as a computer game or simply PC game) is a Video game played on a Personal computer, rather Quake sold 1. Quake is a First-person shooter Computer game that was released by Id Software on June 22, 1996. 8 million copies and became a classic PC game. A personal computer Game (also known as a computer game or simply PC game) is a Video game played on a Personal computer, rather [19]

In July, the game developer Humongous Entertainment was bought by GT Interactive for 3. Humongous Inc is an American Video game developer. The company is known for its line of educational sports games for Children that Atari owns from 5 million shares or $76 million[20]. In 1995, Humongous Entertainment's revenue had risen to $10 million an increase of 233% over 1994's revenue of $3 million. Humongous Inc is an American Video game developer. The company is known for its line of educational sports games for Children that Atari owns from [20] The deal gave GT Interactive rights to successful children's software titles such as Putt-Putt and Freddie the Fish. Putt-Putt Fun Center is the name of a chain of Family Amusement centers and Miniature golf courses

In November, GTIS acquired Warner Interactive Europe for $6. 3 million in cash, with this acquisition GTIS gained access to software markets in Western Europe. [15]

In a further sign of uncertainty about GT's future, GTIS, for the year, reported a net income increase of only 11% over the previous year to $25. 1 million. Revenue growth also decelerated to 56%, revenue for the year was $365 million. Making matters worse, net income in the fourth quarter reduced 16. 8% to $8. 5 million when compared to 1995's fourth quarter. [4]

1997 - $530 million in revenues but $25 million net loss

In January, GT bought One Stop, a European value software publisher, for $800,000 in cash. [15]

In June, GTIS signed a deal with MTV, the deal gave GTIS the rights to publish games based on Beavis and Butt-head and Aeon Flux. MTV ( Music Television) is an American Cable television network based in New York City. Beavis and Butt-head is an American Animated television series created by Mike Judge. Æon Flux (ˌiːɒn ˈflʌks is an Avant garde American Science fiction Animated television series that aired on MTV [21]

On October, GTIS bought game developer SingleTrac for $14. SingleTrac Entertainment Technologies was a Video game developing company mostly for the PlayStation platform 7 million, $5. 4 million in cash and $9. 3 million in stock. SingleTrac owned and developed such games as Twisted Metal and Jet Moto. SingleTrac Entertainment Technologies was a Video game developing company mostly for the PlayStation platform Twisted Metal is the first game in the Twisted Metal Vehicular combat series Jet Moto ( Jet Rider in Europe) is a series of futuristic Racing games for the PlayStation Video game console [22] In September game developer Cavedog Entertainment made its first release, Total Annihilation[23], which sold more than 1 million copies. Cavedog Entertainment, or Cavedog, was a Video game developer based in Bothell Washington. Total Annihilation (abbr TA) is a critically-acclaimed Real-time strategy game created by Cavedog Entertainment and released [4] Cavedog Entertainment was a divisision of Humongous Entertainment[24]

On October 5th 1997, GTIS announced that it had signed a definitive agreement to acquire MicroProse for $250 million in stock, the deal had even been unanimously approved by the Board of Directors of both companies. Cavedog Entertainment, or Cavedog, was a Video game developer based in Bothell Washington. Humongous Inc is an American Video game developer. The company is known for its line of educational sports games for Children that Atari owns from MicroProse, as a corporation and brand name has been owned by several entities since its original founding by Sid Meier and Bill Stealey in 1982 The deal was expected to be completed by the end of that year. [25][26]

But on December 5th the acquisition was cancelled, according to both CEOs "the time is simply not right" for the deal. MicroProse's stock plummeted after the announcement of the deal's cancellation. MicroProse, as a corporation and brand name has been owned by several entities since its original founding by Sid Meier and Bill Stealey in 1982 [27][28]

GTIS's result was negatively affected because GTIS stopped being the exclusive computer software distributor to Wal Mart in March, Wal Mart decided to buy its software directly from the publishers. Wal-Mart Stores Inc (or Walmart as written in its new logo is an American public corporation that runs a chain of large discount department stores Wal-Mart Stores Inc (or Walmart as written in its new logo is an American public corporation that runs a chain of large discount department stores [29]

In 1997 GT Interactive's share of the Entertainment software market reached a historical low of 6. 4% down from the record highs of 9% and 10% years earlier. GT Interactive was leader only on the arcade/action category, with a 20. 3% market share. Making matters worse, GT Interactive also had a high debt/equity ratio of 41%, Electronic Arts had a debt/equity ratio of just 8%. For 1997 GTIS's return on equity was a dismal -16. 14%. [30] For the year, GTIS 's revenue growth continued to decelerate, increased only 45% to $530 million. [31] GT Interactive posted its first net loss, during 1997 GTIS lost $25 million. [4]

1998 - Revenue growth falls to 10%

In May, Epic Games's Unreal was published by GT Interactive, in the first 10 months over 800,000 copies were sold. Epic Games, also known as Epic and formerly as Epic MegaGames, is a Video game development company based in Cary North Carolina, United Unreal is a First-person shooter Computer game developed by Epic Games and Digital Extremes and published by GT Interactive Coincidentally Deer Hunter II, which was released in October also sold 800,000 copies. [4]

In November, GTIS bought for $17. 2 million in stock One Zero Media, becoming the first game publisher to own an entertainment Internet website. [22]

Legend Entertainment was acquired for around $2 million,[22] while Reflections Interactive was acquired for 2. Legend Entertainment was an American developer of Computer games The company was founded in 1989 by Bob Bates and Mike Verdu after the end Ubisoft Reflections Ltd, formerly known as Reflections Interactive or Reflections, is a Video game developer based in Newcastle, UK 3 million shares or $13. 5 million. [22] Both companies were bought in December of 1998. Events Academy of Interactive Arts & Sciences hosts 1st Annual Interactive Achievement Awards; inducts Shigeru Miyamoto of Nintendo [32]

In the fourth quarter of 1998 GT Interactive posted a net income of $16. 7 million on revenues of $246. 3 million. [2] For the year, GT Interactive reported revenues were almost flat rising 10% to $584 million but GT Interactive swung into black by posting a $20. 3 million net income. [4][2] Results with the fiscal year ending on December 31, 1998.

1999 - Infogrames buys GT Interactive

The year of 1999 brought bad news for GT Interactive's shareholders, it posted first quarter losses of $90 million due to restructuring costs. [4] In February, in light of the bad results CEO Ron Chaimowitz was replaced. [31]

Games sales in 1999 fell in comparison to 1998, this fact had dire consequences on GTIS's finances. In April, GTIS predicted for 2000 a first quarter loss of $55 million on revenues of around just $95 million. A failure to release 5 major games and a planned relocation to Los Angeles added to the losses. Los Angeles (lɑˈsændʒələs los ˈaŋxeles in Spanish) is the largest City in the state of California and the American West [33] In June, GTIS announced it had hired Bear Stearns to look into the possibility of either a merger or a sale of the company and in October GT Interactive fired 35% of its workforce or 650 employees mostly from its distribution section. The Bear Stearns Companies Inc, based in New York City, was one of the largest global Investment banks and securities trading and brokerage [34]

In June Reflection's Driver was released it sold approximately 1 million copies. Ubisoft Reflections Ltd, formerly known as Reflections Interactive or Reflections, is a Video game developer based in Newcastle, UK Driver (known as Driver You Are the Wheelman in the US is a 1998 Video game developed by Reflections Interactive (now known as [4] In July One Zero Media was sold for $5. 2 million in cash, just six months after it was purchased. [22]

In November 16, Infogrames announced that it was buying for $135 million 70% of GT Interactive, Infogrames assumed the new subsidiary's $75 million bank debt and had invested $30 million at GT Interactive by June 2000. Infogrames Entertainment SA ( IESA) ( is an international Holding company headquartered in Villeurbanne, Lyon, France. Infogrames Entertainment SA ( IESA) ( is an international Holding company headquartered in Villeurbanne, Lyon, France. [34]

Ten days later GT Interactive made one of its last releases, the classic Unreal Tournament which went on to sell more than 1 million copies. Unreal Tournament is a First-person shooter Video game co-developed by Epic Games and Digital Extremes. [35]

IESA's acquisition came just in time because GT Interactive's 1999 result were dismal. Infogrames Entertainment SA ( IESA) ( is an international Holding company headquartered in Villeurbanne, Lyon, France. Revenues fell 30% to $408 million in 1999 and GT Interactive posted a net loss of $254 million for 1999. [3][2] Results with the fiscal year ending on December 31, 1999.

On December 16th the deal was consummated and GT Interactive was no more, it became Infogrames, Inc. , a subsidiary of IESA. Infogrames Entertainment SA ( IESA) ( is an international Holding company headquartered in Villeurbanne, Lyon, France. [4]

GT Interactive became Infogrames, Inc, then Atari, Inc in 2003. The company that currently bears the Atari Inc name was founded in 1993 under the name GT Interactive. [36]And IESA has since retired the GT Interactive brand.

Games published

Game Boy

Game Boy Color

Macintosh

Nintendo 64

PC

PlayStation

Sega Saturn

Games developed

Macintosh

PC

PlayStation

References

  1. ^ a b c Kushner, David (2003). Tag Team Wrestling is a 1983 arcade Video game developed by Technos Japan and released in the U Rogue Trip Vacation 2012 is a Vehicular combat Video game. It was developed by the game studio SingleTrac using the concept and the engine David Kushner is a writer who has contributed to publications including Wired, The New York Times, Rolling Stone and Masters of Doom (paperback) (in English), Random House. Masters of Doom How Two Guys Created an Empire and Transformed Pop Culture is a book by David Kushner about Id Software and its influence on popular culture Random House Inc is the world's largest English-language general trade book publisher ISBN 0-8129-7215-5.  
  2. ^ a b c d e f SEC Info - Atari Inc - 10-Q - For 12/31/99, As Of 2/14/00 - Table in Document 1 of 2 - 10-Q - Gt Interactive Software Corp
  3. ^ a b c SEC Info - Atari Inc - 10-K - For 3/31/99, On 6/29/99 - Table in Document 1 of 9 - 10-K - Gt Interactive Software Corp
  4. ^ a b c d e f g h i j SEC Info - Atari Inc - 10-K - For 3/31/99
  5. ^ Infogrames Entertainment Corporate Profile and Annual Report 7. Infogrames Entertainment SA (Fiscal Year 2005-2006). Retrieved on 2007-11-06. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 355 - Roman Emperor Constantius II promotes his cousin Julian to the rank of Caesar, entrusting him with
  6. ^ Atari Inc. (March 31st, 2003). 10-KT · For 3/31/03, Overview Subsection. Atari Inc. . Retrieved on 2007-11-06. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. Events 355 - Roman Emperor Constantius II promotes his cousin Julian to the rank of Caesar, entrusting him with
  7. ^ a b 09/02/96 LOTS OF "DOOM" BUT NO GLOOM
  8. ^ Now What Was That GT and Hasbro Were Saying
  9. ^ SEC Info - Atari Inc - 10-K - For 3/31/99, On 6/29/99 - Table in Document 1 of 9 - 10-K - Gt Interactive Software Corp
  10. ^ GT INTERACTIVE REPORTS RECORD SECOND QUARTER REVENUES; Publishing Business Increases Nearly 300 Percent. - Free Online Library
  11. ^ SEC Info - Atari Inc - POS AM - On 5/1/97
  12. ^ Software tops retailers' sales growth list for '94/'96 - Hot Growth Categories | Discount Store News | Find Articles at BNET.com
  13. ^ GT Interactive Co-founder Named CEO of The Auction Channel — Ron Chaimowitz to Lead U.S. Launch and Global Roll-out of The Auction Channel Programming | Business Wire | Find Articles at BNET.com
  14. ^ a b c FindLaw for Legal Professionals - Case Law, Federal and State Resources, Forms, and Code
  15. ^ a b c d SEC Info - Atari Inc - 10-Q - For 6/30/97
  16. ^ GT Interactive Software signs id Software's highly anticipated 'QUAKE'; GT to Publish 'Quake' for all gaming hardware systems | Business Wire | Find Articles at BNET.com
  17. ^ GT Interactive and Target Stores enter distribution agreement; GT Interactive to Become Primary Software Vendor to More Than 600 Target Stores Nationwide. - Free Online Library
  18. ^ Game Matters: Royal tease
  19. ^ Now What Was That GT and Hasbro Were Saying
  20. ^ a b Humongous lives up to name with $76 million sale - Puget Sound Business Journal (Seattle):
  21. ^ GT Interactive and MTV: Music Television announce global multi-title publishing agreement | Business Wire | Find Articles at BNET.com
  22. ^ a b c d e SEC Info - Atari Inc - 10-Q - For 12/31/99
  23. ^ cavedog - GameSpot
  24. ^ MobyGames - Cavedog Entertainment
  25. ^ GT Interactive to Expand as World's Fastest Growing Interactive Entertainment Company Through Acquisition of MicroProse | Business Wire | Find Articles at BNET.com
  26. ^ $250 Million Stock Deal for Microprose - New York Times
  27. ^ MICROPROSE AND GT INTERACTIVE CALL OFF MERGER - Computer Business Review
  28. ^ Company News; Microprose And Gt Interactive End Merger Talks - New York Times
  29. ^ GT Interactive loses ground at Wal-Mart. (GT Interactive Software; retail company) | Video Business | Find Articles at BNET.com
  30. ^ ElecArts.PDF
  31. ^ a b Gt Interactive Hires Disney Honcho, Raises Cash
  32. ^ Amazon.com: Game Design, Second Edition: Books: Bob Bates
  33. ^ GT Interactive Predicts Q4 Loss, Cuts 650 Jobs - Company Financial Information | Computergram International | Find Articles at BNET.com
  34. ^ a b Infogrames Gets Control of GT Interactive - New York Times
  35. ^ Infogrames Unleashes Unreal Tournament: Game Of The Year Edition To The Mass Market This Fall | Market Wire | Find Articles at BNET.com
  36. ^ Microsoft Word - couverture_GB.doc
  37. ^ Nintendo Power, Volume 86, page 15

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