Home Archives November 2007 Deal Watch: Gamers make a killer Diller deal

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

College Conundrum

October 2014
Thursday, September 25, 2014
BY KIM MOORE

University and college tuition fees have been rising for more than a decade, while state funds for higher education have steadily declined.


Read more...

The short list: 5 companies making a mint off kale

The Latest
Thursday, November 20, 2014
kale-thumbnailBY OB STAFF

Farmers, grocery stores and food processors cash in on kale.


Read more...

Growing a mobility cluster

News
Friday, October 31, 2014
0414 bikes bd2f6052BY LINDA BAKER | OB EDITOR

Why are there so few transportation startups in Portland?  The city’s leadership in bike, transit and pedestrian transportation has been well-documented.  But that was then — when government and nonprofits paved the way for a new, less auto centric way of life.


Read more...

Election Season

November/December 2014
Wednesday, October 22, 2014

We didn’t intend this issue to have an election season theme. But politics has a way of seeping into the cracks and fissures.


Read more...

The 100 Best Companies survey is open

News
Friday, October 24, 2014

100-best-logo-2015 500pxw-1How does your workplace stack up against competitors? How can you improve workplace practices to help recruit and retain employees? Find out by taking our 100 Best Companies to Work for in Oregon survey!


Read more...

Two Sides of the Coin

Contributed Blogs
Wednesday, October 22, 2014
22 twosidesBY JASON NORRIS

Historically, when the leaves fall, so do the markets. This year, earnings, Europe, energy and Ebola have in common? Beyond alliteration, they are four factors that the investors are pointing to for this year’s seasonal volatility.


Read more...

OB Poll: Wineries and groceries

News
Friday, October 24, 2014

24-winethumbA majority of respondents agreed: Local vineyards should remain Oregon-owned and quality is the most important factor when determining where to eat or buy groceries.


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