The acquiring company, mentioned very briefly and only once in the takeover announcement, is the kind of buyer most of the Torque licensees were hoping for : a games-related company that is more interested in sustained growth and a compatible business plan with that goal, than quick wins or a cash-and run strategy.
Shocking news this evening : TorquePowered just announced that its partner company will be shutting down, and that they are seeking for a buyer.
InterActive Corp has been creating some very big waves recently in the technology landscape as they are reviewing their business. After a period when the company was buying as much companies as it could in an effort to differentiate its portfolio, that strategy has changed. It seems IAC now wants to focus on a limited number of assets, and the ones that aren’t in the core portfolio have to go. And going in this case means being sold or closed down. Lees verder TorquePowered and InstantAction are shutting down→