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'Mindscape buys Violet out of receivership'
[October 21, 2009]

'Mindscape buys Violet out of receivership'

Oct 21, 2009 (DMEUROPE via COMTEX) -- French RFID products developer Violet, which created the Nabaztag rabbit, has been bought out of receivership by videogame developer Mindscape. The company will pay EUR 350,000 for all of Violet's assets, including R&D, patents and inventory. It will keep seven of Violet's fifteen employees on board. Violet, which sold 150,000 units of its RFID-enabled rabbit that connects to the internet via Wi-Fi and reads weather reports, e-mail and news, and saw its revenues fall to EUR 2.2 million in 2008 from EUR 3.2 million a year earlier. RF terminal maker Txcom and three Violet employees had presented separate proposals to the Paris commercial court to buy Violet. Mindscape announced plans to offer new generation games using interactive objects based on Violet's technologies next year.

Distributed for DMeurope.com via M2 Communications (www.m2.com)

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