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Miacomet
acquires ACT LABS to create gaming hardware powerhouse
Springfield,
MA. December 6, 2000 – Miacomet Inc. announced today that it has signed a
letter of agreement to acquire 100% of Vancouver based ACT LABS Ltd., a
technology development house and provider of leading PC and console gaming
hardware. ACT LABS Ltd. will become a wholly owned subsidiary of Miacomet Inc.
As
a result of this acquisition, Miacomet has acquired the leading PC and console
hardware development house responsible for the award-winning Force RS
force-feedback racing system and the RS Shifter, an independent stick shifter
accessory. ACT LABS is known for its extensive industry contacts as well as
its ability to attract game support for unique and innovative devices.
Miacomet’s
spatial sensory patents cover a range of hardware gaming technologies for use
with golf, pool, snowboarding, fishing, and baseball simulations. ACT LABS
will contribute its in-house development expertise to generate multi-platform
products based on Miacomet’s proprietary technologies.
"ACT
LABS’ experienced engineering and development team will bring our technologies
to market quickly," states Keith Adams, President of Miacomet. " In
addition, they have the resources to evangelize software developers to support
our ground-breaking products."
"
The coming together of Miacomet and ACT LABS represents a significant change
in the future of gaming controllers and what consumers can expect from their
video game experience, " says Alex Pui, President of ACT LABS and now
Chief Operating Officer of Miacomet. " With the support of an unnamed
strategic partner, Miacomet will be releasing a number of products supporting
next generation gaming platforms in the summer of 2001."
The
acquisition, which will be accounted for as a purchase, is subject to certain
closing conditions including satisfactory completion of due diligence by each
party, approval of each party’s Board of Directors, approval of each party’s
shareholders, and execution of the Definitive Agreement. The acquisition is
expected to close in the first quarter of 2001.
Contact:
Keith
Adams
President
Tel:
(413) 787-2500 x103
E-mail:
[email protected]
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