US publisher acquires Flatout and more; But who did it buy rights from?
US-based Zoo Games has acquired the rights to Empire Interactive’s IP, including Flatout and Big Mutha Truckers, following the UK publisher’s fall into administration earlier this week.
Zoo Publishing – a subsidiary of Zoo Games, and unrelated to fellow games companies Zushi Games and Zoo Digital – agreed a partnership with mysterious new company New World IP to attain the rights to the licences.
New World IP initially purchased Empire's licences from administrator KPMG.
MCV asked the CEO of Empire parent Silverstar Holdings, Clive Kabatznik, for details of the company. However, he told us: “It’s absolutely unequivocally not owned by or related to me in any way.”
KPMG said it had been asked by New World’s owners not to give out any details of the business to the press.
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New World IP is based in the US.
Ex-Empire staff have told MCV that they are still waiting to be paid for eight week's work carried out before the company entered administration. However, KPMG has told us that the firm has 'no funds' to settle debts with creditors.
“I am incredibly excited about the prospects of remaking some of the Empire IP, bringing others online, and generating revenue from the current titles,” says Mark Seremet, CEO of Zoo Games, Inc.
“Empire distributed my first company's software in the EU back in the 1980s and while I'm sad to see this economic environment take its toll on Empire, I'm grateful for the opportunity to partner with New World IP to continue the company's franchises.”
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Best of luck to Zoo with the IP. However who are New World IP? I'm sure time will tell who this middle company is...
He is a man of his word
If Mr Kabatznik has said “It’s absolutely unequivocally not owned by or related to me in any way.” then this must be correct. Our understanding is that he is in the same boat as all the other Ex-Empire employees, so we should all wish him luck finding a new job very soon. Any takers?
hmm
Look at what is a matter of public record. Start with the SEC filings for Silverstar Holdings Ltd: who lent them or Empire money? Discover Form 8-K/A filed 13-Nov-2008: Empire had credit facility with Barclays; Full Circle Partners, LP lent SSTR / Empire $1.427 million. These two lenders had to be paid before anyone else. How?
Barclays wouldn't be interested in buying IP. Did Full Circle create New World IP for the purpose of buying Empire's IP from Empire? What is Kabatznik's involvement (other than facilitating the sale)? Empire paid Barclays and went into administration (or at the same time). Zoo in turn licensed the IP from New World.
Was this *really* the best result for *all* the creditors?
RE: aha
To the previous poster.. Apologies for taking down your comment, but we have to remain legally sound. However, we have taken on board your comments and will definitely be following up.
vip works for Zoo now
It has been confirmed that Vip Patel is now working for Zoo - as suspected.
Certainly during the last couple of months of Empire's life Vip demonstrated some impressive qualities:
His flexible approach to his role, in that he would wear his CEO hat in the good times and his humble VP of Sales hat in the bad times.
He looked at staff interests with a minimum of effort while quietly seeking opportunities with the new owners and licensees of the IP prior to the administration.
He understood that, in Empire's situation, if unpaid staff "don't like it you can leave".
He understood that staff were - and I quote - "all in the same boat" whether they were testers living hand to mouth or VPs of Sales/CEOs on ~£150k and had paid off their mortgage some months before - with a job waiting for them after Empire's demise. It wasn't, of course, "my fault they haven't saved". Indeed the situation had nothing to do with him despite being Clive's man from the start and just below Clive in the organisation.
Good luck Zoo.
Do the Bartman
Reminds me of Bart Simpson catchphrase,
I Didnt do it
After the way Clive and Vip have cheated not only their staff but developers, printers and other suppliers maybe they should be known as The Chuckle Brothers
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