George Mannes
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RealNetworks (RNWK - Cramer's Take - Stockpickr) pushed further into the online gaming business Monday by acquiring its leading developer of downloadable games. RealNetworks said the $35.6 million cash-and-stock deal acquisition of GameHouse "contributes to RealNetworks' overall strategy to be the leading provider of digital media consumer services." The agreement highlights RealNetworks' aspiration to run a full-service broadband content business, selling not just music and video subscriptions online, but games as well. The company said the deal should close in two weeks and add a penny to pro forma earnings for 2004. RealNetworks says the deal will bring together GameHouse, a Seattle-based developer, publisher and distributor of downloadable PC games, with RealNetworks' RealArcade downloadable games distribution platform. "Over the last couple of years we have seen how much consumers love GameHouse games," said RealNetworks games executive Andrew Wright. "The combination of our deep consumer experience and GameHouse's proven creative excellence will ensure a continuous stream of top quality content for RealArcade customers and our partners." On Monday, RealNetworks shares rose 23 cents, to $6.55. They rose an added 20 cents in aftermarket trading.
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