Sponsored by Forest Grove Economic Development
Home Back Issues November 2007 Deal Watch: Gamers make a killer Diller deal

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

Trends in business succession

News
Thursday, July 03, 2014
TrendsBY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS

The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.


Read more...

Oregon Business wins awards

News
Monday, June 30, 2014

ASBPEOregon Business magazine won two silver awards for excellence in writing in the National American Society of Business Publication Editors Western region competition.


Read more...

OB Video: Dress for Success

News
Wednesday, July 02, 2014
DFSOBY JESSICA RIDGWAY | OB WEB EDITOR

Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.


Read more...

OB Video: Building trade ties with the EU

News
Monday, June 16, 2014
BritEmbCampionBY KIM MOORE | OB RESEARCH EDITOR

The Oregon economy could get a boost from a new trade agreement being negotiated between the U.S. and the European Union.


Read more...

13 West Coast seafood species now 'sustainable'

News
Tuesday, June 03, 2014

Fishing OrBiz Fishing 0357 ADOBErgbCiting the transition to catch shares management as a key to rebuilding stocks and reducing bycatch, 13 species caught by the West Coast trawl fishery today earned designation from the Marine Stewardship Council (MSC) as sustainable.


Read more...

Updated: Disrupting innovation

News
Tuesday, July 08, 2014
070814 thumb disputive-innovationBY LINDA BAKER  | OB EDITOR

The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation  — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment. 

Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.


Read more...

Portland: Where young people go to work?

News
Friday, June 06, 2014
UntitledBY KATIE AUSBURGER | OB GUEST CONTRIBUTOR

How to build a hipster-friendly work environment.


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