MTV Networks has announced plans to acquire Guitar Hero developer Harmonix Music Systems for $175 million. The deal is expected to close by the end of this year.
Judy McGrath, Chairman and CEO of MTV Networks, explained how the integration of the two companies will improve both fronts. "The acquisition of Harmonix advances MTV Networks’ strategy of connecting with target audiences by creating immersive, multi-platform environments that extend to every device they use. Harmonix is an innovator in giving audiences new and dynamic ways to interact with music, and I couldn’t be more excited to welcome the company into MTV Networks’ strong portfolio of multi-platform brands."
In May, Activision announced plans to acquire Guitar Hero publisher RedOctane. RedOctane and Harmonix Music Systems are currently working on a sequel to Guitar Hero, which is set for release on November 7.
