Take-Two Interactive sent out a press release announcing that it has purchased all of the capital stock of SEGA's California-based sports game development studio Visual Concepts Entertainment and its wholly-owned studio, Kush Games. The purchase price was approximately $24 million in cash and includes the rights to all intellectual property associated with the sports titles, as well as rights to the 2K brand - Take-Two and SEGA will work together to bring sports titles developed by Visual Concepts to SEGA's arcade business. Also, Take-Two is negotiating an agreement with SEGA whereby SEGA will publish and distribute the 2K series of sports titles and certain other Take-Two games in Japan and other Asian territories.