EDISON, NJ-(Marketwire) - 06/06 / 11 - Majesco Entertainment Company (NASDAQ: COOL), a leading publisher of video games for the mass market, announced today that she brings several key Quick Hit, Inc. acquisitions, which underlines the commitment of its social game company. More specifically, Majesco acquired certain assets of operating keys as well as the rapid development team hit to execute on its strategy of social games. The team has the proven ability to build, deploy and monetize the games online through microtransactions and will bring this experience to Majesco online business development.
Operation, Jeffrey Anderson will join the team of Majesco as its Senior Vice President of social games. Anderson was the founder and CEO of Quick Hit, Inc., a developer and operator of online it for free at the game football NFL QUICKHIT Football NFL licensed game that uses the model of virtual goods revenue. Anderson served as President and CEO of Turbine, Inc., where he contributed to the developer world top level MMORPGS including dungeons & Dragons Online Editor and the Lord of the Rings Online. Before Turbine, Anderson has been senior to the origin/Electronic Arts and Viacom. Anderson will be responsible for current and future online titles of Majesco, including coffee Cooking Mama friends, Parking Wars 2 and Bananagrams, as well as several social and mobile products without notice currently in development.
"Social gaming is a sector explosion and our acquisition of Quick Hit play a leadership role in the development of free to play top titles, said Jesse Sutton, Chief Executive Officer, Majesco Entertainment." We always felt that our own development team has been essential to the construction of the know-how necessary to succeed in social games market. I am delighted that we have been able to ask a group of this caliber and an Executive experienced in Jeff Anderson in such a competitive market.
"Plan the Majesco social games is exciting and their past experience in identifying and providing large game marks is consistent with our collective vision of the free space in the game, said Anderson." "" We look forward to the direction of online strategy and the Majesco mobile in the future. »
With respect to the operation, as an incentive to employment, Majesco granted an aggregate of 170,652 restricted stock common to ten incoming employees. The shares acquired in three equal instalments every 6 months during the 18 months following the date of grant. The shares have been granted as material incentives for new employees entering employment with Majesco, according to the list of NASDAQ 5635 (c) (4) rule. For a more thorough description of the acquisition, please consult the current report of the Majesco on form 8-K as filed with the Securities and Exchange Commission, June 6, 2011.
For more information on Majesco Entertainment, please visit: www.majescoentertainment.com.
On Majesco Entertainment Company
Majesco Entertainment Company is a leading publisher of video games for the mass market. Based on more than 20 years of operating history, society focuses on developing and publishing a wide range of casual and family-oriented video games on Kinect for Xbox 360 ®, PlayStation ® move motion controller, Wii?, 3DS? of Nintendo and Nintendo DS?, Facebook ® platform, mobile and other major platforms. Product highlights Cooking Mama?, TETRIS ® party Deluxe and Zumba ® Fitness. The company shares are traded on the Nasdaq stock market under the symbol: COOL. Majesco has its headquarters in Edison, NJ and has an international office in Bristol, UK. More info found online at www.majescoentertainment.com or on Twitter at www.twitter.com/majesco.
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