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Take-Two Interactive Software, Inc. Announces Underwriters’ Exercise of Over-Allotment Option to Purchase $37.5 Million of Company’s Notes

  • Posted on July 27, 2017 at 10:37 am

Take-Two Interactive Software, Inc. (TTWO) (the “Company”) announced today that the underwriters for the recently completed public offering of the Company’s 1.00% Convertible Senior Notes due 2018 (the “Notes”) exercised in full their option to purchase an additional $37.5 million principal amount of the Company’s Notes on July 12, 2013. The sale of these additional Notes closed today, which increases the total principal amount of the Notes sold by the Company in this offering to $287.5 million.

J.P. Morgan Securities LLC, Barclays Capital Inc. and Wells Fargo Securities, LLC were the underwriters for the offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, marketer and publisher of interactive entertainment for consumers around the globe. The Company develops and publishes products through its two wholly-owned labels Rockstar Games and 2K. Our products are designed for console systems, handheld gaming systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website athttp://www.take2games.com.

All trademarks and copyrights contained herein are the property of their respective holders.

Cautionary Note Regarding Forward-Looking Statements

The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company’s future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: our dependence on key management and product development personnel, our dependence on our Grand Theft Auto products and our ability to develop other hit titles for current and next-generation platforms, the timely release and significant market acceptance of our games, the ability to maintain acceptable pricing levels on our games, our ability to raise capital if needed and risks associated with international operations. Other important factors and information are contained in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2013, in the section entitled “Risk Factors,” the Company’s Registration Statement on Form S-3 filed with the SEC on June 12, 2013 and the Company’s other periodic filings with the SEC, which can be accessed at www.sec.gov. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

IDF San Francisco 2013: Intel to unveil new product optimizations

  • Posted on March 9, 2017 at 9:14 pm

Intel is set to host Intel Developer Forum (IDF) 2013 in San Francisco, the US from September 10-12 to further discuss its 2-in-1 device plans as well as its latest progress in Android smartphone and tablet development, according to sources from the upstream supply chain.

With new CEO Brian Krzanich and president Renee James coming on-board to adjust Intel’s business strategy, the sources believe the CPU giant is likely to unveil new optimizations for products as well as several interactive technologies such as voice recognition and gesture control at the forum.

Intel may also unveil product designs for its new quad-core SoC Bay Trail-T, which is set to be launched in December, at the forum and prepare related marketing projects.

Intel is expected to showcase smartphones developed with Lenovo, ZTE, Acer and Asustek Computer and may even display its 22nm Merrifield-based smartphones, which are set to be released in the first half of 2014, the sources said.

Since wearable devices have become a focus of IT players, Intel may also announce plans for related developments.

Intel’s new CEO and Atom chip face uphill climb to mobility

  • Posted on September 26, 2016 at 10:22 am

Intel announced earnings Wednesday that were in line with expectations, but the chipmaker is facing a daunting future as mobile devices further erode the PC business and its Atom chip vies for customers.

“With its new, low-end Atom processor, Bay Trail, the company is gaining traction in cheap notebooks and tablets, but we believe this is at the expense of higher-end core processors,”said Piper Jaffray analyst Gus Richard. “Intel is late to the smartphone market and we believe high-end smartphone sales are starting to roll over. Intel is far behind its competitors in terms of cost and integration in smartphones, in our view. We do expect Windows 8.1 to drive a corporate upgrade cycle next year, creating a bounce in PC demand.”

Intel’s new CEO Brian Krzanich said organization, strategic, and prioritization changes “will drive greater emphasis on our Atom-based products, bringing the full weight of our process and architectural leadership to the Atom family.”

Asymco’s Horace Dediu illustrates the dynamics of Intel’s situation — he calls it a “PC calamity” — which is similar to the situation facing Microsoft, a dominant leader in the PC era facing a steep uphill climb in the mobile era.

In the last six years, nearly as many iOS and Android devices have been sold as PCs and mobile ARM devices are selling at least 2.6 times the rate of Intel-powered devices.

(Credit: Asymco)

“In terms of installed base, a computing category that did not exist six years ago has come to overtake one that has been around for 38 years,” Dediu wrote. “The calamity for Intel has been that they have had no part to play in the new category. Perhaps that is because they had every part to play in the old category.”

As you would expect, during the Intel earnings call Krzanich was optimistic about the potential for Atom processors to get traction in the fast-growing mobile space.

“Look at it as a constant pushing of the accelerator down and the thing just gets faster and faster as time goes by. And so you’ll just see more and more strength of that Atom line as time goes through here, and it will be kind of just, you’ll look back and say well it’s obviously that the Atom line has truly become strong and they’ve got share in the tablet space,” he said.

Intel trimmed its annual financial outlook from low single-digit percentage growth to to flat year over year.