Financial terms of the deal have not been disclosed, but the development business and the publishing operation will now come under the umbrella company TT Games which will be the holding company for all IP.
Traveller’s Tales will continue to be headed up by Jon Burton – who also now becomes chairman of the TT Games board. Similarly, Giant – which exclusively owns the rights to games based on Lego properties until 2012 – will still be headed by founder Tom Stone (pictured right with Burton, left).
The two companies have worked together for the past couple of years on LEGO Star Wars, which hits the shelves later this month (April 22nd). And they see the merging of the two businesses as pivotal to them becoming the leading developer and publisher in the kids’ games sector.
“When we started working together we genuinely didn’t think that this would come about,” Stone told MCV.
“However, we have seen the tremendous value in combining our resources. One plus one, as far as our business is concerned, equals five. The merger of Traveller’s Tales with Giant actually means that we will end up creating better games.”