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Vivendi Sells Educational Software Business
by David Jenkins [PC, Console/PC]
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October 5, 2004
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Vivendi Universal Games, the video games division of global entertainment business Vivendi Universal, has sold its Knowledge Adventure educational software business to Knowledge Holdings Inc. The company has been formed by two Bay Area venture capital firms: Azure Capital Partners and Telesoft Partners.
Under the deal, Vivendi Universal Games will continue to distribute the Knowledge Adventure titles world-wide. Financial terms of the deal were not disclosed, but Vivendi Universal Games CEO Bruce Hack has commented that: "The divestiture of these educational software titles is part of VUG's strategy in the US to focus our business on games."
"The agreement with Azure and Telesoft is positive for VU Games and Knowledge Adventure, as it will enable both parties to focus on building their respective core strengths," he continued.
The range of educational software, including titles such as Jump Start and Math Blaster, continue to prove popular, suggesting that the sale was a lucrative one for Vivendi. VU's interactive entertainment division has been losing money for some time now, and the injection of capital and refocusing on games appears to be well-timed.
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