OCT. 16, 2008 • Independent publisher Gamecock agreed to be acquired by SouthPeak Interactive. The former did not disclose the reasons for the acquisition. Daily Variety, however, reported that SouthPeak will pay no thing up front. Instead, Gamecock principals will receive seven percent of revenue from any of their games that SouthPeak releases, plus stock options.
Impact: Reports suggest Gamecock didn’t rely on a variety of sources for funding. Given the ongoing slashing of portfolio values worldwide, it would not be surprising if Gamecock was forced into SouthPeak’s arms if its investors were caught short by the financial liquidity crisis.
