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Interplay Sells Fallout IP to Bethesda
 
Interplay Sells Fallout IP to Bethesda [ Company -> Update ]
Posted by King of Creation Thu 12 Apr 2007, 5:18 PM
News related to Top Story: INTERPLAY SELLS FALLOUT IP | More info on Company: Bethesda Softworks | More info on Company: Interplay

Shocking!

As of April 4, 2007, the Company entered into, an Asset Purchase Agreement (the "APA") and a Trademark License Agreement (the "License Back") with Bethesda Softworks LLC, a video game developer and publisher ("Bethesda"), regarding "FALLOUT", an intellectual property which was owned by the Company (the "IP"). Although such agreements were signed on April 4, 2007 they were agreed not to be binding until closing which occurred on April 9, 2007.

Under the APA, the Company sold all of its rights to the IP to Bethesda for a total amount of $5,750,000.00 payable to the Company, subject to various conditions, in three cash installments. The first installment of $2,000,000.00 was paid following closing when $200,000.00 was paid to the Company and $1,800,000.00 was deposited into an escrow account to satisfy various liabilities. The Company expects to have fulfilled its obligations under the APA and to receive full payment during the third quarter of 2007. The Company had previously, on June 29, 2004, entered into, an exclusive licensing agreement with Bethesda, regarding the IP which was superseded by the APA.

Under the License Back the Company obtained an exclusive license, under certain conditions, to use the IP for the purpose of developing an Interplay branded Fallout Massively Multiplayer Online Game ("MMOG").

That's quite a large chunk of money. Hopefully Fallout 3 will turn out to be amazing, and the series will have a prosperous life at its new home. If FO3 turns out to be bad, at least we can still look forward to FOOL :-p.

Thanks to Briosafreak and his blog for the heads up!

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