NEW YORK, NY, March 2, 1999 - Securing one of the most recognizable names in the world of sports, GT Interactive Software Corp. (Nasdaq: GTIS) has entered into a long-term global publishing agreement with IMS Properties, Inc. for the Indianapolis...
NEW YORK, NY, March 2, 1999 - Securing one of the most recognizable names in the world of sports, GT Interactive Software Corp. (Nasdaq: GTIS) has entered into a long-term global publishing agreement with IMS Properties, Inc. for the Indianapolis 500 and its sanctioning body, the Pep Boys Indy Racing League. Under terms of the multi-year global agreement, GT Interactive obtains exclusive interactive software rights to the Indy 500, Indy Racing League, Indianapolis Motor Speedway, Indy Racing League teams and drivers, for all PC and console platforms. In addition, GT Interactive obtains exclusive rights to all sequels, add-on and level packs.
"For nearly 90 years the Indianapolis 500 has been the premier event in the world of racing, and we are excited to partner with IMS Properties in bringing this great event into the interactive arena," said Thomas A. Heymann, chairman and CEO of GT Interactive. "Adding the incredible popularity and success of the Pep Boys Indy Racing League, the top open-wheel oval racing series, provides us with an incredible license."
Known as "The Greatest Spectacle in Racing," the Indy 500 is the largest single day sporting event in the world, televised globally to millions of fans and attracting the most talented drivers in the world, each vying for a piece of the record $8 million plus purse. In addition, the Indy 500 boasts its own Hall of Fame museum, and Indy FanFest, a 200,000 square-foot auto racing theme park and entertainment center open during the month of May.
"GT Interactive is the premier publisher and distributor of interactive entertainment software, and we are pleased to partner with them in bringing the Indianapolis 500 and the Indy Racing League to our fans in this entertaining way," said Tony George, president and CEO of the Indianapolis Motor Speedway.
Originally formed in 1994, the Indy Racing League began racing in 1996 and hasn't taken its foot off the throttle since. With 11 events in 1999, the Indy Racing League features some of the biggest names in racing including Eddie Cheever Jr., Kenny Brack and Scott Goodyear, all of whom can be utilized in the game. In addition, the Indy Racing League has secured sponsorship of major corporations such as Pep Boys, Canon, Oldsmobile, Infiniti and Coors.
"By licensing to GT Interactive we are confident that we have the ideal partner," said Dave Moroknek, director of consumer products for IMS Properties. "As a worldwide leader in software publishing, GT will create games that will reflect the quality, leadership and excellence of the Indianapolis Motor Speedway."