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Gizmondo Europe To Be Liquidated
20Pfhor7 writes "The English High Court has ordered Gizmondo Europe to be liquidated, according to The Register. Looks like parent company Tiger Telematics' funding plans haven't gone according as they'd hoped, and it may have to sell off its Gizmondo USA operation." From the article: "Tiger said it was considering its own future in the light of the High Court verdict, and of the liquidation of its game studios in Sweden and Manchester, England. For starters, it's now able to eliminate $72m of the $90m liabilities recorded on its balance sheet as of 30 September 2005. It said it was pondering the sale of the whole company, parts of it, or elements of the intellectual property it owns, 'including patents and game rights, and continuing operations in the USA'."
Tiger is a toy company famous for those little portable lcd football games. They launched Gizmondo to compete with Gameboys, Psps, and the like. In Europe there were reports of financial mismanagement at its best and mafia ties at its worst.
"Tiger is a toy company famous for those little portable lcd football games."
Informative? You're talking about Tiger Electronics, not Tiger Telematics.
I don't know how many offices they have in the U.S. - but I drive by their Austin TX office every day on my way to work. Lately that building looks pretty deserted... No cars, the marquee with spiffy sayings hasn't been updated and just looking through the windows while driving by looks dead.