Real Networks To Spin Off Game Business
Real Networks today said that it plans to spin off its casual games business into an independent company and distribute shares of the newly created games company to its shareholders. The newly created firm could go into an initial public offering with up to 20% of the shares being sold.
According to Real Networks, the games business division reported 2007 revenues of $108.5 million, up 26% over 2006.
The company anticipates that spinning off its casual games business will result in "two more flexible and focused companies".
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