prof.com,
I guess you saw the news late Friday afternoon regarding GIG/GTR and Microsoft...and the 35% gain in share value for GIG/GTR that resulted. I have stayed long GIG (AMEX), and in fact have cost averaged a couple of times. In fact, with this latest move I am actually in a profit position. However, I have no intention of selling this one until we are deep into the Microsoft and Nintendo roll out. I could be wrong but I believe strongly that this could turn into a four bagger over the next year/year and a half. Here's the news release, in case you missed it.
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GTR GROUP INC.: MICROSOFT CORP - Mad Catz And Microsoft Execute World-Wide License Agreement - For Xbox Video Game Console
New York, New York, Mar 02, 2001 (Market News Publishing via COMTEX) -- Mad Catz, a subsidiary of GTR Group Inc., and a leading manufacturer of video game accessories, announced that it has entered into a worldwide license agreement with Microsoft allowing Mad Catz to design, manufacture, and market licensed third-party peripherals for the Xbox(TM) video game console from Microsoft in North America, Europe and Japan.
Under the Agreement, Mad Catz will produce a full-range of Mad Catz branded products that will be officially endorsed by Microsoft and carry the Xbox license logo. The licensed products will include a controller, memory unit, racing wheel, and the critically acclaimed Panther joystick (a product exclusive to Mad Catz that features a unique trackball and joystick combination for optimal first-person play in action games). Additional licensed products, such as light guns and fishing rods will be launched to coincide with software releases. The Agreement also allows Mad Catz to work closely with Xbox software developers, opening the door for peripheral/software bundles and other cooperative integration.
"This agreement is very significant for Mad Catz since it will ensure that we have a full line of compatible accessories available at the time of launch", said Darren Richardson, President and C.O.O. of Mad Catz, Inc. "As video game technology becomes more complex, it is critical that peripheral companies work closely with the first party game system manufacturers to ensure compatibility and consumer satisfaction. We are committed to providing high quality peripherals to diversify the Xbox platform and help make the launch a huge success."
"Our goals are to enhance the consumer's video game experience and ensure product compatibility," said Scott Loomis, Xbox 3rd Party Peripheral Program Manager. "Because Mad Catz is known industry wide for their innovative and high quality products, naturally we would want to partner closely with Mad Catz to further enhance and diversify the consumer's video gaming experience."
Microsoft is expected to release the much-anticipated Xbox in North America and Japan later this year and in Europe in early 2002.
About Xbox
Xbox (http://www.xbox.com/) is Microsoft's future-generation video game console that delivers new and unforeseen gameplay experiences. With more than three times the graphics performance of the newest generation of game consoles, Xbox unleashes game designers' creativity to produce games that are challenging, exhilarating, surprising, and fun.
About Mad Catz, Inc.
Mad Catz, Inc., (www.madcatz.com) a GTR Group Inc. subsidiary, designs, develops, manufactures and markets a full range of accessories for video game consoles and PC gaming systems. Mad Catz is a worldwide leader of innovative peripherals in the interactive entertainment industry. Headquartered in San Diego, California, Mad Catz has offices in the U.S. and Asia, as well as distributors in the U.S., Canada, Europe and Australia.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions. Risk factors are detailed from time to time in the Company's periodic reports and registration statements are filed with the Securities and Exchange Commission.
Xbox and Microsoft are trademarks of Microsoft Corp.
CONTACT: TEL: (619) 258-6920 x341 Darren Richardson, Mad Catz, Inc.
E-mail: drichardson@madcatz.com
TEL: (212) 981-2529 x13 Viveca Woods, Adam Friedman Associates
E-mail: viveca@adam-friedman.com
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EOM
Best regards,
RBL |
