Monday, February 28, 2011

Mad Catz Acquires Flight Simulation Firm

San Diego-based Mad Catz Interactive, which makes videogame and other entertainment accessories, said today that it has acquired the assets of V Max Simulation Corporation, a developer of flight simulation equipment and software. Mad Catz said it paid $378,000 in cash plus $260,000 in its stock for V Max Simulation, and will also pay 5 percent of profits from its fighter flight simulation business to that firm's founder, David Kinney. Mad Catz said the buy will bolster its Saitek simulation brand, which creates flight simulation accessories and peripherals. Kinney joins the firm as VP of Flight Simulation as par tof the buy.