News

GameCom plans to acquire Ferris

April 3, 2002

ARLINGTON, Texas - Just a week after bowing out of an acquisition agreement with Global VR, GameCom Inc. said it has completed a letter of intent to acquire Ferris Productions Inc., a Phoenix-based virtual reality company.

The transaction will be a trade of stock and is subject to shareholder approval. L. Kelly Jones, GameCom's chief executive officer, will serve as chairman and CEO of the firm, while Ferris president Robert D. Ferris takes the title of president. Terms of the deal weren't disclosed.

On April 12, GameCom announced that it had decided against the deal with Global VR, a manufacturer of virtual reality game platforms, and was negotiating with two other companies about making an acquisition.

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. It has also completed projects for Fortune 500 companies including Pepsi and IBM.

GameCom is a developer of network-enabled gaming kiosks, and is a publicly traded firm based in Arlington, Texas.