6/06/2006
Global VR acquires part of UltraCade Technologies
Silicon Valley/San Jose Business Journal - 1:06 PM PDT Monday
Global VR Inc. said Monday it has completed acquisition of some assets and products of UltraCade Technologies Inc.
Financial terms were not divulged.
San Jose-based Global, which was founded in 1998 and makes coin-operated video games based on home gaming technology, began the acquisition effort in late 2005.
After the sale of certain assets to Global, the remaining assets of San Jose-based UltraCade Technologies will be liquidated and payments made to creditors, Global said, adding that all of the UltraCade creditors can expect to be contacted by Sherwood Partners LLC, within the next few weeks.
Many former UltraCade Technologies employees have joined the Global staff, the company said.
David R. Foley, former head of UltraCade Technologies, was named chief technology officer and executive vice president of gaming.
Global VR Inc. said Monday it has completed acquisition of some assets and products of UltraCade Technologies Inc.
Financial terms were not divulged.
San Jose-based Global, which was founded in 1998 and makes coin-operated video games based on home gaming technology, began the acquisition effort in late 2005.
After the sale of certain assets to Global, the remaining assets of San Jose-based UltraCade Technologies will be liquidated and payments made to creditors, Global said, adding that all of the UltraCade creditors can expect to be contacted by Sherwood Partners LLC, within the next few weeks.
Many former UltraCade Technologies employees have joined the Global staff, the company said.
David R. Foley, former head of UltraCade Technologies, was named chief technology officer and executive vice president of gaming.
