Take-Two Sells Joytech

In a bid to shift its focus to software, Take-Two Interactive has sold Joytech, its video game accessories subsidiary, to Mad Catz Interactive. The sale has been conducted for $3.7 million. “Joytech’s strong presence in Europe and growing presence in North America are expected to complement our current operations and further enhance our worldwide distribution network enabling Mad Catz to more efficiently deliver a larger portfolio of innovative gaming accessories to our customers worldwide,” Mad Catz CEO Darren Richardson said in a statement.

As mentioned above, the sale is part of Take-Two management team’s plan to cut its unessential businesses and increase its focus on software, which it is doing very well currently.

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