Midway Games Inc. announced today that it has acquired Austin, Texas-based Inevitable Ent. Inc., the developer of Midway’s upcoming video game, Area 51. The acquisition accelerates Midway’s previously announced plans to open an Austin studio and increases the company’s internal development resources.
Midway acquired privately held Inevitable for 218,421 shares of Midway common stock. In addition, a total of 152,824 restricted shares of Midway common stock were issued to key Inevitable employees as retention incentives.
Established in 2000, Inevitable achieved success with its first effort, the critically acclaimed Tribes Aerial Assault, which was the first online multiplayer first-person shooter for PlayStation 2. The studio is now at work on Area 51, which is scheduled for release in the first half of 2005 and features the voices of David Duchovny (The X-Files), Powers Boothe (HBO’s Deadwood) and goth rocker Marilyn Manson. The game is expected to be adapted for the big screen by Paramount Pictures.