Crave Entertainment Purchased
Handleman says Games are "one of the fastest growing entertainment product lines"
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Handleman has announced that they will be acquiring Crave Entertainment, a privately owned software and hardware publisher and developer. The acquisition should be completed in 45days, pending the approval of regulatory committees.
Stephen Strome, Handleman Company Chairman and Chief Executive Officer said, "The acquisition of CEG expands our customer base, broadens our product line and is expected to be immediately accretive to earnings. Video game software is one of the fastest growing entertainment product lines, with industry growth expected to exceed an 8% compounded annual growth rate over the next four years. In addition, we expect the combination of Handleman Company and CEG will provide growth opportunities for both organizations through cross-selling customers, services and products."
Stephen Strome, Handleman Company Chairman and Chief Executive Officer said, "The acquisition of CEG expands our customer base, broadens our product line and is expected to be immediately accretive to earnings. Video game software is one of the fastest growing entertainment product lines, with industry growth expected to exceed an 8% compounded annual growth rate over the next four years. In addition, we expect the combination of Handleman Company and CEG will provide growth opportunities for both organizations through cross-selling customers, services and products."