Miacomet Acquires ACT LABS

ACT LABS today announced they have been acquired by a company called Miacomet. Happy for the ACT LABS guys, who really pushed force feedback through an era where everyone else considered the technology useless, but obviously this leaves the manufacturer feeling like an unknown now those trusted are no longer fully at the helm.

Press release:

Miacomet acquires ACT LABS to create gaming hardware powerhouse

Springfield, MA. December 6, 2000 – Miacomet Inc. announced today that it has signed a letter of agreement to acquire 100% of Vancouver based ACT LABS Ltd., a technology development house and provider of leading PC and console gaming hardware. ACT LABS Ltd. will become a wholly owned subsidiary of Miacomet Inc.

As a result of this acquisition, Miacomet has acquired the leading PC and console hardware development house responsible for the award-winning Force RS force-feedback racing system and the RS Shifter, an independent stick shifter accessory. ACT LABS is known for its extensive industry contacts as well as its ability to attract game support for unique and innovative devices.

Miacomet’s spatial sensory patents cover a range of hardware gaming technologies for use with golf, pool, snowboarding, fishing, and baseball simulations. ACT LABS will contribute its in-house development expertise to generate multi-platform products based on Miacomet’s proprietary technologies.

“ACT LABS’ experienced engineering and development team will bring our technologies to market quickly,” states Keith Adams, President of Miacomet. ” In addition, they have the resources to evangelize software developers to support our ground-breaking products.”

” The coming together of Miacomet and ACT LABS represents a significant change in the future of gaming controllers and what consumers can expect from their video game experience, ” says Alex Pui, President of ACT LABS and now Chief Operating Officer of Miacomet. ” With the support of an unnamed strategic partner, Miacomet will be releasing a number of products supporting next generation gaming platforms in the summer of 2001.”

The acquisition, which will be accounted for as a purchase, is subject to certain closing conditions including satisfactory completion of due diligence by each party, approval of each party’s Board of Directors, approval of each party’s shareholders, and execution of the Definitive Agreement. The acquisition is expected to close in the first quarter of 2001.