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Gameloft agreed to sell its 88% interest in Odyssée Interactive Jeuxvidéo.com to the Hi-media group for 22.87 million euros in cash.
The transfer was made on a valuation basis for Odyssée Interactive Jeuxvidéo.com of 26 million euros.
This sale reflects the determination of Gameloft - the market leader in video games for mobile phones that maintained profitability and three-digit growth in 2003, 2004 and 2005 - to focus its energy on its fast-growing core business.
Without equal in this industry, thanks to its 2,000 designers, its award-winning game catalogue, its distribution network that covers 70 countries, and having bolstered its existing financial resources with this transaction, Gameloft is ideally positioned to consolidate and develop its worldwide market leadership.
The number of consumers equipped with games-enabled cell phones topped one billion this year and is expected to reach close to two billion by 2010.
Jeuxvideo.com accounted for 4.33% of Gameloft's total sales in 2005.