Sammy to Acquire SEGA
 May 18th, 2004 (12:00am) - Last year Sammy Corp. and SEGA were about to ago a merger or buyout of sorts. However, due to certain unspecified circumstances Sammy backed out of the deal. Well, today it was revealed that relationships between Sammy and SEGA have just gotten stronger.
According to CNN Money, the Sammy Corp. has acquired SEGA in a stock deal worth $1.4 billion USD. With this purchase Sammy has acquired all of SEGA’s brands including Sonic the Hedgehog and Virtua Fighter. Now, the two Japanese industry giants will be called SEGA Sammy Holdings Inc., with Sammy holding a 95.3% stake in the company, which will be run by Sammy Chief Executive Hajime Satomi. The deal between the two companies will be finalized on October 1st, 2004, with SEGA dropping out of the Tokyo Stock Exchange on the 27th of September.
Reported by Elias Dounis on May 18th, 2004 (12:00am) [From: CNN Money]
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