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IAC Acquires Majority Stake In GarageGames

IAC Acquires Majority Stake In GarageGames

September 18, 2007 | By David Jenkins

September 18, 2007 | By David Jenkins
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Officials from "interactive conglomerate" IAC have announced that the company has acquired a majority of independent games developer GarageGames equity. As a result the two companies now plan to launch a new Web-based video game network named InstantAction.com, intended to offer original action titles through a standard Web browser.

Financial details of the investment have not been made public, but IAC (InterActive Corp.), who also operate brands including Ask.com, Match.com, Ticketmaster and HSN, intend that GarageGames' existing management team will continue to lead the business as the InstantAction network is developed.

It has been revealed that GarageGames CEO and CTO Josh Williams appointed Andy Yang of IAC to spearhead the InstantAction network earlier this year. The InstantAction.com site is now live and accepting registrations for access to its private beta and is expected to launch to the public in early 2008. It will feature a range of graphically rich, networked games to run in popular Web browsers with no download installation.

At the same time, InstantAction will also launch a game development fund aimed at "fostering a new generation of game development for the Internet".

"We've been looking at the video game sector for years and it wasn't until we found GarageGames and their idea for InstantAction.com that we believed IAC could participate in a true Internet innovation in online gaming," said Barry Diller, CEO of IAC.

"Working with IAC, we are now able to truly fulfill our vision to enable developers both large and small to deliver innovative ideas on an exciting new accessible platform for gamers," said GarageGames' Josh Williams. "The InstantAction Fund will invest in talented teams who want to bring high-quality action gaming to everyone in the world through the internet."


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