ULTRACADE Bought by Global VR!

[KevSteele]

Here's the news from the RePlay Magazine web site (http://www.replaymag.com/instant.htm)

GLOBAL VR TO BUY ULTRACADE

(posted Tuesday, December 13, 2005 -- 10:30AM)

Video game maker Global VR announced today that it has signed a letter of intent to acquire fellow arcade game maker Ultracade Technologies. Both companies are based in the San Jose, Calif., area, and Global VR topper Jim DeRose joked that both firms are known for an ongoing interchange of technical and sales personnel. "The result of this combination will be a solid, strong company with the solid backing of (GVR investor) Calim Private Equity," said DeRose. Details of the purchase, which has been spelled out in a definitive agreement and should close in 90 days, were not made public.

DeRose said that Global VR will support Ultracade's ongoing product line, including the horse racing franchise Breeders' Cup, which has faced some headway in the marketplace since its introduction early this year. He and Ultracade founder David Foley say they are confident that Breeders' Cup will make headway with a newly released software update, which helps promote casual play by allowing non-cardholding customers to enjoy the horse racing action. "The plan is continue to support that product through Global VR's total customer satisfaction team," said Foley, alluding to GVR's new four-person team of roving service personnel devoted to overseeing marketing, tournaments and technical issues at the local and regional level.

DeRose welcomed someone of Foley's "technical expertise" to the factory's development team on future projects, including Breeders' Cup and Global VR's EA Sports Madden Football video, which will be revived this coming year in a new and improved version. "We believe that both of those products will be stronger than ever as a result of this acquisition," concluded DeRose, who said Foley will work in tandem with him on upcoming projects. Ultracade operations will move into Global VR's San Jose facility in the next three months, and as many as half of Ultracade's 46 staffers will be retained by Global VR.

No word on the fate of the Arcade Legends cabs, the VR Pinball project, or iRoms, but methinks they may be dead...

Kevin

[ChadTower]

I wanted to see the pin project come to fruition.

[Stingray]

I was really dissapointed with Breeder's Cup. Who knew it was a horse racing game?

-S

[Crazy Cooter]

History of Foley:
http://www.playmeter.com/0505coverstory.htm

[Grasshopper]

That guy always seems to be just one step ahead of the creditors. I certainly won't be rushing to buy shares in Global VR anytime soon.

[mr.Curmudgeon]

I was really dissapointed with Breeder's Cup. Who knew it was a horse racing game?

-S

I always thought *this* was a Breeder's Cup?!





mrC

[SirPoonga]

first, if anyone hasn't checked out global vr's website they basically grin EA's games to the arcade.  They have tiger woods, madden, and nfs undergroung currently.
I loike their games.  They do a good job of translating the games to the arcade environment.

So Global VR now own's Mr.Do?  Mr. Do is becoming Atari...

This also means Foley isn't in charge though I'm sure he is still influencial on the company's actions.

Being that I have been in a company that went through an acquisition usually the buying company's management ideas are used instead of the aquired company's.

[ChadTower]

I've been involved in a few of them.  It can go any of a hundred different directions.

[Crazy Cooter]

Being that I have been in a company that went through an acquisition usually the buying company's management ideas are used instead of the aquired company's.

I'm sure we all have at least one idea for them  .

[ChadTower]

Still going to retail for over $3000, though? 

[quarterback]

the horse racing franchise Breeders' Cup, which has faced some headway in the marketplace since its introduction early this year.

What does "which has faced some headway" mean?

[markrvp]

You know, if Foley would use his talents to develop some new and exciting game that would further the industry (like Golden Tee Golf did) instead of screwing with us over $500 cabinets, then we would all be cheering him on.  The retrogame business model just isn't profitable at that scale (or any scale probably). 

Go make millions like Incredible Technologies did by creating a kick-ass game we want to play.

[Crazy Cooter]

the horse racing franchise Breeders' Cup, which has faced some headway in the marketplace since its introduction early this year.

What does "which has faced some headway" mean?

Sega pulled the plug on it.

[versapak]

the horse racing franchise Breeders' Cup, which has faced some headway in the marketplace since its introduction early this year.

What does "which has faced some headway" mean?

Sega pulled the plug on it.

Huh?

Source?

[KevSteele]

the horse racing franchise Breeders' Cup, which has faced some headway in the marketplace since its introduction early this year.

What does "which has faced some headway" mean?

Sega pulled the plug on it.

Huh?

Source?

http://www.playmeter.com/0505coverstory.htm

"Foley recalls that day in July 2005 when during a trip to UltraCade's brand-new corporate headquarters Sega and Sammy management announced that they would not be licensing the technology that UltraCade had developed and also would not be funding the completion of UltraCade's horse racing game.

"It was a severe blow to morale and put us in a panic financially," recalled DeKett, who had invested almost two years of work at that point. "Now the scramble was on to figure out how to finish the game and, more importantly, how to brand it without major backing to really make it stand out."

Interesting read, thanks to Crazy Cooter for posting it a few messages back.

[RayB]

first, if anyone hasn't checked out global vr's website they basically grin EA's games to the arcade.

[Kremmit]

[small voice] ..um, I kind of, um liked the PC version of Beachead 2000.[/small voice]

[missioncontrol]

I was really dissapointed with Breeder's Cup. Who knew it was a horse racing game?

-S

---gosh-darn--- it warn me when you'r about to post this stuff......

I laughed so loud everbody had to stop and see what was going on...

[danny_galaga]

I was really dissapointed with Breeder's Cup. Who knew it was a horse racing game?

-S

 

[Generic Eric]

[small voice] ..um, I kind of, um liked the PC version of Beachead 2000.[/small voice]

I like them both actually.  On an aside, did you know there was a Beach head 2002 and a pearl harbor themed game?  For PC, not arcade

[Kremmit]

I saw the 2002 version, but never bought it.  I didn't know about the Pearl Harbor one.  Maybe I'll have to dig them up sometime- thanks!

[daywane]

can this be the end of FOLEY?

[Thenasty]

can this be the end of FOLEY?

He must have taken my advice about working for McDonalds, serving fries and burgers

[RayB]

How can it be the end? Mergers like this usually involve someone like Foley being named Director of something at the merged company. Maybe he'll be Director of Intellectual Property Enforcement.

[ferrarimanf355]

can this be the end of FOLEY?

Actually, I thought the Xbox 360 Live Arcade would be the end of Foley... 

[ferrarimanf355]

can this be the end of FOLEY?

Actually, I thought the Xbox 360 Live Arcade would be the end of Foley...

[ferrarimanf355]

I have no influential power.