News

ETPI tries to block Ferris merger

March 31, 2002

ARLINGTON, Texas - GameCom Inc., an Internet gaming company, reported today that Entertainment Technologies & Programs Inc. filed a lawsuit against GameCom regarding its intent to purchase Ferris Productions Inc., a virtual reality entertainment company.

On April 18, 2001, GameCom and Ferris announced they had filed a letter of intent for GameCom to acquire Ferris. Ferris had previously filed a letter of intent with ETPI. Ferris terminated the agreement before signing with GameCom, according to L. Kelly Jones, GameCom's chief executive officer.

As recently as this March, an ETPI press release reported Bob Ferris, chief executive officer for Ferris, commenting enthusiastically about their upcoming merger. The CEO cited opportunities for expanded markets as a chief reason for the deal. Houston-based ETPI is a supplier of entertainment services to the U.S. military

GameCom has been shopping for a company to acquire. It had been interested in Global VR, a manufacturer of virtual reality games. On April 12, GameCom announced that it had decided against the deal with Global VR.

GameCom makes 'Net GameLink, which features gaming kiosks. Ferris has installed virtual reality entertainment centers in many national theme parks, and is developing a method of converting PC games from the home market to arcades. Ferris is based in Phoenix.