Video gaming firm moves toward sale
Reno’s 5000 Ft. Inc., a company that develops interactive entertainment products such as casino games, may be acquired by Media Exchange Group Inc. of Los Gatos, California.
Media Exchange said last week it’s signed a non-binding letter of intent to acquire 5000 Ft. Terms weren’t disclosed.
The Reno company, which got its start 10 years ago as a developer of video games and moved into casino products five years ago, would retain its name and operate as a wholly owned subsidiary of Media Exchange Group.
Customers of 5000 Ft. include International Game Technology, Bally Gaming and Cantor Gaming.
The firm was founded by Tim Page, a former executive with Philips and Virgin Interactive. Its chief executive officer, Ian Grieve, is a former director with Sony Corp. and former commercial director with Warthog Games PLC.
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