Deal Watch: Gamers make a killer Diller deal

| Print |  Email
Thursday, November 01, 2007

GarageGames.jpg

Barry Diller has a 300-foot yacht, Diane von Furstenberg for a wife and a portfolio of Internet companies (from the Home Shopping Network to LendingTree.com) under his IAC/Inter Active Corp. business. But now the man who brought us the Fox Television Network also has a majority stake in an 8-year-old computer game development business in Eugene.

GarageGames, a 70-employee company known for its Torque Game Engine (an engine is software that game developers license to render graphics and run the basics of game play), came into the IAC fold for a figure reported by Portfolio magazine to be around $50 million. For that, Diller’s company got a majority stake in the Eugene development shop and the promise of a foothold in the frontier of Web browser-based gaming.

Last month, GarageGames unveiled its InstantAction online game environment at the Indie Games Conference in Eugene. InstantAction is what first attracted Diller to GarageGames and promises to deliver all the shoot-’em-up action of games played on consoles, such as the latest iterations of Xbox and Playstation, but with the convenience of being run through your Web browser.

GarageGames’ CEO, the fresh-faced Josh Williams, assures his fellow gamers in a blog post that the deal with IAC is very much in line with his philosophies. “IAC has acquired a majority of the equity at GG,” Williams writes. “However, we used a very unique structure in our deal with them. While IAC now has the majority of the future economic value of GG, we continue to run the shop right here in good old Eugene, Oregon.”

CHRISTINA WILLIAMS

MERGERS AND ACQUISITIONS
ANNOUNCED EXP. CLOSE BUYER/PARENT (HQ) SELLER (HQ) / PARENT PRICE (TERMS)
Aug. 30 Q3 ’07 CNET (CA) VersionTracker (Portland) ND





Sept. 10 Q3 ’07 RadiSys (Hillsboro) modular communications platforms business /Intel (CA) $31.75m (cash)





Sept. 14 Q1 ’08 FLIR Systems (Portland) Cedip Infrared Systems (France) $86.4m (cash)





Sept. 18 Q3 ’07 IAC (NY) GarageGames (Eugene) ND





REAL ESTATE TRANSACTIONS
ANNOUNCED BUYER/PARENT (HQ) REAL ESTATE (LOCATION) / SELLER (HQ) PRICE
Sept. 5 3D Investments Oregon City Shopping Center (Oregon City)/ Kimco Realty $30.5m




Sept. 12 Holland Partners (WA) Stoneridge at Cornell (Portland)/ Fairfield Residential LLC $21.13m




Sept. 19 Wilson Meany Sullivan (CA) Stonesthrow Apartments (Tualatin)/ Acacia Capital $27.5m




Sept. 19 Donnelly Museum Building LLC office building (Portland)/ Abernathy Partners $1.3m




Sept. 20 LaCamas LLC LaCamas Center (WA)/ H&O Properties GP $10.5m




Sept. 20 Westbridge Properties (CA) Glen at Burnt Bridge Creek (WA)/ Brandt Management Group; Janet McCulloch Trust $15m




Sept. 24 Green Leaves Healthcare Pharmacy (CA) Walgreens (Portland)/ Eagle Children’s Trust $5.4m




Sept. 26 Chadell II LLC office building (Beaverton)/ McClusky Petruzelli Skourtes LLC $2.15m




Sept. 26 LRS Architects office condo (Portland)/ Winkler Development $7.31m




Sept. 26 MDRI Properties LLC 14.2 acres (Portland)/ Ferguson Enterprises $3.6m




Sept. 27 Davais Properties LLC industrial property (Hillsboro)/ Jan Eric Nordmo $2.08m




Sept. 27 G&Rays LLC Ray’s Food Place building (Eugene)/ Arthur C. Piculell Jr. & Dee W. Piculell $9m




Sept. 27 Amax LLC America’s Best Inn (Aloha)/ American Hospitality Investments LLC $2.61m




Sept. 28 Nearside LLC retail building (Portland)/ 23rd & Kearney Street LLC $2.65m






CAPITAL RAISING
ANNOUNCED COMPANY (HQ) / LEADERSHIP INVESTOR PRICE (TERMS)
Sept. 7 Bioject Medical Technologies (Portland)/ Jerald S. Cobbs, chairman Partners for Growth $500,000 (term loan + warrants)




Sept. 7 Umpqua Holdings (Portland)/ Raymond P. Davis, CEO statutory trust/LaSalle Bank $20m (private placement)




Sept. 17 Oregon Community Health Information Network (Portland)/ Abby Sears, CEO U.S. Department of Human Services $4m (federal grants)




Sept. 11 Tillamook Bay Community College (Tillamook)/ Jon Carnahan, president public bond offering $9.86m (general obligation bonds)




Sept. 17 Southwestern Oregon Community College (Coos Bay)/Judith M.L. Hansen, president public bond offering $9.99m (full faith & credit obligations)




Sept. 26 University of Oregon (Eugene)/ Dave Frohnmayer, president NSF & Oregon Nanoscience and Microtechnologies Institute $480,000 (grant)




Sept. 28 Virogenomics (Tigard)/ Adolph J. Ferro, CEO National Institute of Standards and Technology $1.9m (grant )





Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it
 

More Articles

Is there life beyond Reed?

September 2015
Wednesday, August 19, 2015
BY GARY THILL | PHOTOS BY JASON E. KAPLAN

A storied institution climbs down from the ivory tower.


Read more...

Preserving the Legacy

July/August 2015
Monday, July 13, 2015
BY KIM MOORE | PHOTOS BY JASON E. KAPLAN

A New York floral and gift business takes on the iconic Harry & David brand.


Read more...

Downtime with Debra Ringold

July/August 2015
Monday, July 13, 2015
BY JACOB PALMER

Dean of the Atkinson Graduate School of Management, Willamette University


Read more...

Greenpeace (temporarily) prevents Shell oil ship from leaving Portland

The Latest
Thursday, July 30, 2015
hangersBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

Greenpeace activists suspended themselves from the St. John's Bridge in an attempt to prevent a ship from heading to the Arctic.


Read more...

Ranking the airlines that fly PDX

The Latest
Friday, August 14, 2015
airlinesthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

17 airlines make stops at Portland International Airport, but not all are created equal when it comes to customer service.


Read more...

House of Clarity

July/August 2015
Monday, July 13, 2015
BY JACOB PALMER

Holding a Power Lunch at Veritable Quandary in downtown Portland.


Read more...

Staffing Challenge

July/August 2015
Monday, July 13, 2015
BY KIM MOORE

A conversation with Greg Lambert, president of Mid Oregon Personnel Services.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS