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Activision buys game developer

Video and computer games publisher Activision said Monday that it will acquire the remainder of developer Gray Matter Interactive Studios, best known for creating the current hit PC game "Return to Castle Wolfenstein." Activision already owns 40 percent of Los Angeles-based Gray Matter and will acquire the remainder in a stock deal worth about $3.16 million, based on Activision's closing price Friday. "Gray Matter has a very talented team of programmers, designers and artists, and we are confident that the studio's development strengths will further establish Activision as a leader in the PC action genre," Ron Doornink, president of Santa Monica, Calif.-based Activision, said in a statement. Shares in Activision, best known for its "Tony Hawk: Pro Skater" series of games, have more than doubled in the past year.

By January 14, 2002


Softbank sheds part of Yahoo stake

The Japanese Internet investor sells 3.16 million shares of the Net giant, making $336 million in profit.

June 1, 2000