Business
Closure of Games Publishing
Closure of Games Publishing.
About this update from Zoo Digital Group Plc
[{"type":"text","content":"\n Zoo Digital Group PLC\n05 April 2006\n\n\n5 April 2006\n\n ZOO DIGITAL GROUP PLC\n ('ZOO' or 'the Group')\n\n Closure of Games Publishing Business and Sale of Assets\n\nFurther to the statement issued on 1 February 2006 outlining the strategic\nreview of the Group, ZOO announces that it has re-focused ZOO Digital Publishing\n('ZDP'). ZOO will now concentrate its publishing activities on the creation and\npublication of interactive DVD-Video ('iDVD') titles and have renamed this\ndivision of the business ZOO Interactive Video Ltd ('ZIV'). ZOO's activities\ngoing forward consist of ZOOtech, the R&D and DVD-EXTRA software licensing\ndivision of the Group, and ZIV.\n\nZOO has resolved to close its traditional games publishing business and has sold\nthe remaining assets to Barry Hatch, former Sales Director of ZDP, for a cash\nconsideration of £250,000. He will also assume ten members of the publishing\nstaff as part of the sale agreement. The remaining members of staff have been\nmade redundant which also sees the closure of ZOO's game development studio in\nBristol and completes ZOO's exit from traditional games development and\npublishing.\n\nThe development of ZOOtech now represents the main focus for ZOO moving forward.\nThe Board believe that the prospects for the development of its unique DVD\nsoftware remain sound and are encouraged by the continuing commercial\nopportunities that the Hollywood market presents.\n\n - ends -\n\nEnquiries:\n\nStuart Green \nCEO, ZOO Digital Group plc \n0114 241 3700 \n\nJames Chandler\nWeber Shandwick Square Mile\n07771 787098/020 7067 0747\n\nAlasdair Robinson\nNoble & Company Limited\n0131 225 9677\n\nNotes to Editors:\n\nAbout ZOO Digital Group PLC\nZOO is divided into two separate divisions; ZOOtech Ltd ('ZOOtech') and ZOO\nInteractive Video Ltd ('ZIVL') (formerly ZOO Digital Publishing Ltd ('ZDPL')).\n\nZOOtech Ltd ('ZOOtech')\nZOOtech focuses on R&D and licensing of DVD-EXTRA, the Group's highly original\ndevelopment software capable of creating complex interactive content for\nstandard DVD players. The strategy for ZOOtech is simple; to create the industry\nstandard tool for the production of interactive DVD content and drive revenues\nthrough licensing worldwide in a combination of up front fees and royalties.\n\nZOO Interactive Video Ltd ('ZIV')\nZIVL is a world leader ...