In a surprising announcement, Sega, the world's largest developer of arcade games, and Sammy, the world's largest manufacturer of pachinko machines, have revealed plans to merge on October 1 of this year. Sammy president Hajime Satomi will lead the new company, which will be valued at approximately $3.1 billion. Sega recently announced that it would be cutting its profit forecast for 2002-2003 by 90 percent, while Sammy's sales have tripled over the last three years. The added financial stability provided by Sammy will help Sega focus more on its arcade business and general software development. Details of the merger have yet to be finalized, so it's not currently known if the companies will be kept somewhat separate or if it will be an outright merger.
We'll post more details as they become available.
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