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Take-Two Sells Game Accessories Unit

The move focuses the company on core game-making operations.

Video-game publisher

Take-Two Interactive

(TTWO) - Get Report

sold its Joytech accessories unit for about $3.7 million to game-peripherals maker

Mad Catz Interactive

.

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Joytech makes game add-ons and audiovisual accessories and has retail distribution in Europe and North America.

The sale is part of Take-Two's previously announced plans to divest itself of noncore businesses.

"The sale of the Joytech assets is consistent with one of the key goals we established in our

100 day plan to develop strategic alternatives for any operations that we determined to be outside our core publishing business," said Ben Feder, Take-Two's CEO in a statement.

Shares of Take-Two were down 66 cents, or 4%, to $15.51 in recent trading.

Take-Two said the Joytech sale isn't expected to be material to its results. Joytech employees in the U.S. and U.K. are expected to join the San Diego, Calif.-based Mad Catz.

Take-Two will report its third-quarter fiscal 2007 results on Monday.