Deal Watch: Gamers make a killer Diller deal

| Print |  Email
Archives - November 2007
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

Business School

September 2015
Wednesday, August 19, 2015
BY AMY MILSHTEIN

Training, from the mundane to the sublime, bolsters companies and workers in an uncertain world.


Read more...

Unshakable

September 2015
Wednesday, August 19, 2015
BY BRIAN LIBBY

Ben Kaiser holds his ground.


Read more...

Inside the Box

September 2015
Wednesday, August 19, 2015
BY GINA BINOLE

Screening for “culture fit” has become an essential part of the hiring process. But do like-minded employees actually build strong companies — or merely breed consensus culture?


Read more...

Aim High

September 2015
Thursday, August 20, 2015
BY JOE CORTRIGHT

We get the education we deserve.


Read more...

Photo Log: Waterfront Blues Festival

The Latest
Thursday, July 09, 2015
bluesfestthumbBY JASON E. KAPLAN | STAFF PHOTOGRAPHER

The sweltering weather didn't keep the crowds away. Although the numbers were down slightly from last year, the Oregon Food Bank raised $850,636 to fight hunger.  About 80,000 people attended despite temperatures in the upper 90s.


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...

The Private 150: From Strength to Strength

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

Revenues in Oregon's private, for profit sector maintained solid growth as the economy continued to rebound.


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