Mad Catz Acquires the Assets of V Max Simulation Corporation

Mad Catz Interactive, Inc. MCZ announced today that it has acquired the assets of V Max Simulation Corporation. V Max designs, constructs, integrates, and operates flight simulation equipment and develops flight simulation software. Total consideration for the assets purchased includes $378,000 in cash at closing and $260,000 in Mad Catz common stock, valued at the closing price on February 23, 2011. In addition, for fiscal years 2012 through 2016, Mad Catz will pay a commission equal to 5% of the profits generated from a discrete slice of the fighter flight simulation business to David Kinney, V Max's President and Founder.