Publisher's new Cloud Chamber™ studio to develop next iteration in the acclaimed BioShock® franchise
MONTRÉAL, Dec. 9, 2019 /CNW Telbec/ - Montréal International and Investissement Québec announce that global video game developer and publisher 2K is opening a new a game development studio in Montréal, which marks the first-ever Canadian office for the American company. The studio, called Cloud Chamber™, will see its Montréal team – along with colleagues at a second office in Novato, California – work on the next iteration of one of the video game industry's most iconic franchises: BioShock®, which will be in development over the next several years.
"We are incredibly inspired and excited by the opportunity to bring BioShock back to its passionate global audience, as well as be the first 2K studio with a presence in Canada," said Ken Schachter, Studio Manager, Cloud Chamber Montréal. "We look forward to building a studio foundation that flourishes in the months and years to come – not only for the gaming industry but the incredible people of Montréal, Québec and Canada as well."
"Montréal is proud to welcome the very first 2K studio in Canada. The creativity, know-how and innovation that characterize the metropolis continue to attract the best talents and stimulate our economy. As the country's leading video game production centre, Montréal has been shining for many years thanks to the creative genius of its workers," stated the Mayor of Montréal, Valérie Plante.
Montréal International, Greater Montréal's economic promotion agency, supported 2K in every step of its investment project. "We are thrilled to welcome this major player in our successful, innovative and creative video games ecosystem," said Stéphane Paquet, Vice President, Foreign Investments and International Organizations at Montréal International. "The video games industry in Québec generated a remarkable rise of 31%1 in the number of jobs in the last two years, thanks to our highly qualified pool of talent."
Investissement Québec, which has the role of attracting new foreign investment to Québec and supporting international subsidiaries that locate here so they can continue to grow and invest, hailed 2K's project. "Investissement Québec welcomes 2K's decision to set up a game development studio in Québec. It confirms the stability and, most of all, the talent characterizing Québec's video games sector. We're proud to support 2K as it establishes itself in Montréal and contributes to local economic development," stated Guy LeBlanc, President and CEO of Investissement Québec.
Key facts on the Montréal video games sector:
- 1st production center in Canada
- In the top 5 largest hubs in the world
- 140 studios
- World-class universities and training programs that are focused on industry needs
- The most competitive operating costs among the 20 largest cities in Canada
- and the United States
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. We develop and publish products through our labels Rockstar Games, 2K, and Private Division, as well as Social Point, a leading developer of mobile games. Our products are designed for console systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services. The Company's common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at http://www.take2games.com.
Founded in 2005, 2K develops and publishes global interactive entertainment for console and handheld gaming systems, personal computers and mobile devices, with product availability including physical retail and digital download. The Company is home to many talented development studios, including Visual Concepts, Firaxis Games, Hangar 13, Cat Daddy Games, 2K Silicon Valley and Cloud Chamber. 2K's portfolio currently includes the renowned BioShock®, Borderlands™, Mafia and XCOM® franchises; NBA® 2K, the global phenomenon and highest rated2 annual sports title for the current console generation; the critically acclaimed Sid Meier's Civilization® series; the popular WWE® 2K and WWE® SuperCard franchises, as well as emerging properties NBA® 2K Playgrounds 2, Carnival Games and more. Additional information about 2K and its products may be found at 2k.com.
About Montréal International
Created in 1996, Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Montréal Metropolitan Community and the City of Montréal. MI's mandate is to attract and retain foreign investment (companies and startups), international organizations, strategic workers and international students by offering them support services tailored to their needs.
About Investissement Québec
Investissement Québec's mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "should," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for the Company's future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including: our dependence on key management and product development personnel, our dependence on our Grand Theft Auto products and our ability to develop other hit titles, the timely release and significant market acceptance of our games, the ability to maintain acceptable pricing levels on our games, and risks associated with international operations. Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company's most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at http://www.take2games.com/. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
1 Based on the ESAC report : http://theesa.ca/wp-content/uploads/2019/11/CanadianVideoGameSector2019_EN.pdf
2 Based on Metacritic average ranking across available platforms
SOURCE Montréal International
For further information: Ariane Lafrenière, Advisor, Communications, Montréal International, 514-987-9327, [email protected]; Isabelle Fontaine, Senior Director, Public and Government Affairs, Investissement Québec, [email protected]ébec.com; Jaime Jensen, 2K, (415) 507-7910, [email protected]; Alan Lewis (Corporate Press), Take-Two Interactive Software, Inc., (646) 536-2983, [email protected]