Buena Vista Games acquires Avalanche Software

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Buena Vista Games acquires Avalanche Software

Buena Vista Games underscored its commitment to internal game development Tuesday by acquiring Avalanche Software and establishing a new startup game studio.

Late last year, BVG parent company Walt Disney reported it had earmarked $40 million for developing its game business. Terms of Tuesday’s deals were not disclosed, but Graham Hopper, Buena Vista Games senior vp and general manager, said that they totaled “well south of $50 million.” BVG had $265 million of revenue in fiscal 2004 and plans to reach $536 million in fiscal 2006.

Read the complete story. (Reuters)