GAMING INDUSTRY NEWS [UPDATE]: Intellectual Property Rights Auction of 38 Studios and Big Huge Games, to Be Conducted by Heritage Global Partners on Behalf of Richard J. Land, Receiver, on December 11

- Strong Response from Worldwide Gaming Developers and Investors Pushes Date from Original Timing -

SAN DIEGO & PROVIDENCE, R.I.--()--Heritage Global Partners (“HGP”), a global leader in asset advisory, auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL), today announced that reflecting a very strong response from interested potential buyers – including leading domestic and international game development interests – its upcoming auction sale of all video game and related intellectual property rights to the “Amalur” fantasy universe (38 Studios), “Rise of Nations,” and “Rise of Legends”” (Big Huge Games), and other related video game technology assets, is being moved to December 11, from its original November 13-14 sale dates.

Richard J. Land is Court-Appointed Receiver for the assets of 38 Studios, LLC, 38 Studios Baltimore, LLC, Mercury Project, LLC and Precision Jobs, LLC, overseeing the Receivership (Rhode Island Superior Court Case Nos. P.B. 12-4095, P.B. 12-4096, P.B. 12-4097, P.B. 12-4098) sale of all video game and video game related intellectual property rights owned by Rhode Island-based 38 Studios, which was founded by Major League Baseball pitcher Curt Schilling.

Bid Deadline

The deadline for submitting initial bids as per the court approved Bid Procedures, is 5 pm ET on December 4, 2013. A Potential Bidder must deliver fully-completed and signed copies of the Participation Requirements by email to: (a) Receiver, Richard J. Land, Esq., (rland@crfllp.com), and (b) Nick Jimenez (njimenez@hgpauction.com).

Assets offered include:

  • Intellectual property rights in the “Amalur” fantasy universe including:

- “Project Copernicus” an in-development Massively Multiplayer Online Role Playing Game (MMORPG) including a 10,000 year world history, completed character “races” and playable “zones.”

- Sequel rights to the critically acclaimed “Kingdoms of Amalur: Reckoning,” including development concepts, game artwork and designs.

- Merchandise rights and revenue streams associated with the Xbox 360, PS3 and PC title “Kingdoms of Amalur: Reckoning.”

  • Intellectual property rights in Big Huge Games’ properties including the classic PC strategy title “Rise of Nations” as well as “Rise of Legends.”
  • In house developed video game technology including the “Big Huge Games Engine” and 38 Studios’ gaming, social media and development platform codenamed “Helios.”

38 Studios Auction - online auction sale led by Heritage Global Partners

Date [note new date/time]: December 11, 2013 (Begins 10 am ET)

Nick Jimenez, Executive Vice President of Heritage Global Partners, stated, “We are delighted by the strong interest coming from game developers and investors. In response to inquiries, we have a special team working on authenticating what assets are included for each game. In addition to the strong response leading to the postponement of the auction, we have committed to ensuring all interested parties have sufficient access and time to evaluate the technical materials in advance of the sale.

“Additionally, through the examination of the data contained on the 38 Studios servers, we have discovered a completed, but unreleased game for Mac users titled ‘Rise of Nations: Tactics.’ We only became aware of this game this past week through our own due diligence efforts,” added Mr. Jimenez.

Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting companies with buying and selling assets. HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, and much more. HGP is a subsidiary of Heritage Global Inc.

Contacts

Heritage Global Partners
Nick Jimenez, 203/733-7191
njimenez@hgpauction.com
or
JCIR
Robert Rinderman, 212-835-8500
HGP@jcir.com

Sharing

Contacts

Heritage Global Partners
Nick Jimenez, 203/733-7191
njimenez@hgpauction.com
or
JCIR
Robert Rinderman, 212-835-8500
HGP@jcir.com