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Mad Catz

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Mad Catz Global Limited
FormerlyMad Catz Interactive, Inc.
Company typePublic
Expert Market: MCZAF
IndustryVideo games
Founded1989; 35 years ago (1989) (as Mad Catz Interactive, Inc.)
4 January 2018 (2018-01-04) (second incarnation)
RevenueUS $134.1 million (2016)[1]
Websitewww.madcatz.com

Mad Catz Interactive, Inc. is an American-Canadian brand that provided interactive entertainment products marketed under the Mad Catz, GameShark (gaming products) and TRITTON (audio products) brands. Mad Catz also distributed video game products for third-party partners. Mad Catz Global Limited (a Hong Kong–based company) acquired the trademarks.

History

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1989–2000

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A memory card for the original PlayStation

Mad Catz was founded in 1989. It focused on accessories such as control pads, memory cards, connection cables, headphones and other human interface devices for the PC and various video game consoles. Mad Catz also published console game titles, such as Real World Golf 1 and 2, MC Groovz Dance Craze and Pump It Up.

Mad Catz Interactive, Inc. was incorporated under the Canada Business Corporations Act on 25 August 1993. The company was acquired in 2000 by the Toronto-based GTR Group, Inc. for a purchase cost of US$33.3 million, along with Games Trader (which collected and sold previously played and republished games) and ZapYou.com (which focused on e-commerce solutions).[2]

2000–2009

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In 2000, Mad Catz released the MC2 Racing Wheel for the Sony PlayStation, which was awarded the Golden Award by Incite Video Gaming Magazine, and the Mario Andretti Racing Wheel, which GameSpy judged as the best peripheral of the 2000 Electronic Entertainment Expo (E3). The company produced 12 licensed controllers for the launch of the Sega Dreamcast and also released Internet-related accessories such as the Panther DC and keyboard adapter.

In September 2001, GTR Group decided to capitalize on the strength of the Mad Catz brand and changed its corporate name to Mad Catz Interactive, Inc., closing its GamesTrader and ZapYou.com business units.[3] The year 2001 saw the release of Microsoft's Xbox and Nintendo's GameCube and Game Boy Advance. Mad Catz offered products for these launches, such as the Control Pad Pro for GameCube, the Lynx Control Pad and the BeatPad (dancepad) controller for the PlayStation 2, the Game Boy FlipLight, and memory cards for the Xbox.[3]

In January 2003, Mad Catz acquired the GameShark brand, described as "the industry leader in video game enhancement software, [enabling] players to take full advantage of the secret codes, short cuts, hints and cheats incorporated by video game publishers into their game offerings,"[4] and associated intellectual properties from InterAct for US$5 million.[5]

In September 2007, Mad Catz acquired UK-based company Joytech for US$3.7 million.[6] In November 2007, Mad Catz further diversified into the videogame accessory market by acquiring European-based manufacturer Saitek for US$30 million.[7]

In 2008, Capcom commissioned Mad Catz to produce a limited number of ArcadeSticks and six-button controllers, branded as “FightSticks” and “FightPads,” to coincide with the launch of their Street Fighter IV fighting game.[8] Due to the unanticipated demand for these products, production on these controllers was ramped up from their originally limited numbers. The FightStick remains a mainstay of the Mad Catz product line. In 2008, the FightStick's popularity spurred Mad Catz's involvement in the pro-gaming community, and Mad Catz has a strong presence at shows such as EVO, PAX, and San Diego Comic-Con. In 2009, Mad Catz released licensed controllers for Call of Duty: Modern Warfare 2 and Call of Duty: Black Ops.

2010–2017

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Mad Catz's Rock Band 3 controllers: Keyboard, Rock Band 3 Drumkit, and Mustang Pro (102-button) Guitar.
Mad Catz's Street Fighter IV FightStick Tournament Edition Arcade controller

In 2010, Mad Catz released officially licensed controllers for Rock Band 3, including a keyboard controller, a microphone controller, drum kits, and two guitar controllers (both the familiar five-button and the Fender Mustang “Pro” 102-button guitar).[9] That same year, Mad Catz acquired TRITTON Technologies, a San Diego–based gaming audio headset firm, in May 2010 for US$1 million at closing.[10] In June 2010, Mad Catz announced an agreement with Major League Gaming (MLG) to produce the MLG Pro Circuit Controller for Xbox 360 and PlayStation 3. Mad Catz sponsored MLG Pro Circuit Competitions.[11]

In 2011, Mad Catz’s Cyborg-branded R.A.T. 7 Gaming Mouse was named “Best PC Accessory of 2010” by IGN.[12] The company returned to software distribution by publishing Jonah Lomu Rugby Challenge, Damage Inc. Pacific Squadron WWII (a World War II flight simulation game with a custom joystick), and Rock Band 3. Mad Catz acquired certain assets of V Max Simulation Corporation, which designs, constructs, integrates and operates flight simulation equipment and develops flight simulation software.[13]

Mad Catz has continued its focus on peripherals and accessories, such as the range of R.A.T. gaming mice and TRITTON-branded gaming headsets. In January 2013, Mad Catz announced its "GameSmart" initiative, a range of products using the Bluetooth Smart stack featuring game and hardware independence, simplified setup, longer battery life and universal compatibility. Announced products include the R.A.T.M Wireless Mobile Gaming Mouse, the F.R.E.Q.M Mobile Stereo Headset, M.O.U.S.9 Wireless Mouse, and the C.T.R.L.R Mobile Gamepad.[14] The "GameSmart" initiative is intended to introduce an industry standardization to the mobile world.[15]

In June 2013, Mad Catz announced the M.O.J.O. Android Micro Console, described as "a supercharged smart phone with no screen that plugs into your flat screen TV to bring the living room experience to mobile gaming."[16] M.O.J.O. is designed to interact seamlessly with Mad Catz's GameSmart controllers, mice, keyboards, headsets, and the rest of its gaming peripherals.[16] In 2013, Mad Catz produced the Killer Instinct Arcade FightStick Tournament Edition 2, the first fighting game controller available for the Xbox One, the then-latest Microsoft gaming console, that started shipping in late November 2013.[17]

Mad Catz helped spur interest in the burgeoning field of esports by sponsoring the inaugural ESL One at Madison Square Garden in October 2014, as well as sponsoring the Capcom Pro Tour featuring Street Fighter IV.[18]

In April 2015, Mad Catz announced that it would co-publish Rock Band 4 along with Harmonix, in addition to making the controllers for the game. Under the terms of the agreement, Mad Catz was responsible for worldwide retail sales, promotion, and distribution for the Rock Band 4 game and its hardware bundles. Harmonix handled Rock Band 4 digital sales and content.[19] Rock Band 4 was launched on 6 October 2015.

In August 2015, Mad Catz announced that it will work with Cloud Imperium Games to create licensed simulation products for its space simulation game Star Citizen.[20] These products, produced under Mad Catz's Saitek brand, were first unveiled at Gamescom 2015.[21]

On 9 February 2016, Mad Catz announced that it would lay off 37 percent of its workforce and stated that "Rock Band sell-through was lower than originally forecast resulting in higher inventory balances as well as lower margins due to increased promotional activity with retailers."[22] This followed the resignations of company president and CEO Darren Richardson, senior VP of business affairs Whitney Peterson, and company chairman Thomas Brown the day prior.[23]

On 15 September 2016, Logitech acquired Saitek, Mad Catz's simulation brand specializing in computer joysticks for $13 million.[24]

In March 2017, the New York Stock Exchange reported to the company that it was in the stages of delisting the company from the Exchange due to "abnormally low" stock value, which Mad Catz did not plan to appeal.[25]

Bankruptcy

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Mad Catz ceased operations on 30 March 2017, and filed a voluntary petition for relief under Chapter 7 of U.S. Bankruptcy code to initiate an orderly liquidation of its assets.[26]

Return

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On 4 January 2018, Mad Catz Global Limited (a new company headquartered in Kowloon, Hong Kong[27]), with new ownership of previous Mad Catz trademarks, announced the return of the Mad Catz brand and the launch of a new line of products at CES 2018.[28] Mad Catz Global Limited has continued the brand's development of gaming peripherals such as mice, keyboards, headphones, and controllers. In 2024, Mad Catz announced they will be entering the game publishing business with Yatagarasu Enter the Eastward.[29]

References

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  1. ^ "Mad Catz profit turns to $11m loss on "incredibly disappointing" Rock Band 4". GamesIndustry.biz. 3 June 2016. Archived from the original on 4 June 2016. Retrieved 23 March 2022.
  2. ^ "Mad Catz, Inc - Press Release Page". Media.corporate-ir.net. Archived from the original on 23 October 2013. Retrieved 22 October 2013.
  3. ^ a b "Mad Catz Annual Report 2012 : Leading the Way" (PDF). Media.corporate-ir.net. Archived (PDF) from the original on 6 June 2023. Retrieved 23 March 2022.
  4. ^ "Mad Catz Acquires GameShark Brand From Interact". Nintendoworldreport.com. Archived from the original on 23 October 2013. Retrieved 22 October 2013.
  5. ^ "Mad Catz 2003 Annual Report" (PDF). Archived from the original (PDF) on 23 October 2013. Retrieved 22 October 2013.
  6. ^ "Take-Two sells unit to Canada's Mad Catz". Reuters. 7 September 2007. Archived from the original on 6 August 2022. Retrieved 22 October 2013.
  7. ^ Sinclair, Brendan (14 November 2007). "Mad Catz buys Saitek". GameSpot. Archived from the original on 7 November 2012. Retrieved 22 October 2013.
  8. ^ "Mad Catz Street Fighter IV FightSticks Review". Gizmodo.com. 27 February 2009. Archived from the original on 23 October 2013. Retrieved 22 October 2013.
  9. ^ Murph, Darren (19 June 2008). "Mad Catz apt to release Rock Band instruments next week". Engadget.com. Archived from the original on 23 October 2013. Retrieved 22 October 2013.
  10. ^ "Mad Catz Acquires Gaming Headset Company Tritton". Gamasutra. Archived from the original on 23 October 2013. Retrieved 22 October 2013.
  11. ^ "Mad Catz | All About the Game | Press Release". Phx.corporate-ir.net. 2 June 2010. Archived from the original on 28 November 2008. Retrieved 22 October 2013.
  12. ^ "Best PC Accessory 2010 - Cyborg R.A.T. 7 Gaming Mouse - Gear - IGN". Bestof.ign.com. Archived from the original on 23 October 2013. Retrieved 22 October 2013.
  13. ^ "Mad Catz | All About the Game | Press Release". Phx.corporate-ir.net. Archived from the original on 28 November 2008. Retrieved 22 October 2013.
  14. ^ "Mad Catz | All About the Game | Press Release". Archived from the original on 22 October 2013.
  15. ^ "The MadCatz MOJO: Is There Room For Another Android Gaming Console?". Forbes. 15 June 2013. Archived from the original on 28 September 2013. Retrieved 22 October 2013.
  16. ^ a b "Mad Catz | All About the Game | Press Release". Phx.corporate-ir.net. 11 June 2013. Archived from the original on 6 September 2013. Retrieved 22 October 2013.
  17. ^ "Mad Catz | All About the Game | Press Release". Phx.corporate-ir.net. 16 July 2013. Archived from the original on 28 November 2008. Retrieved 22 October 2013.
  18. ^ "How This Tech Company Benefits From eSports". fortune.com. 5 November 2015. Archived from the original on 7 November 2015. Retrieved 5 November 2015.
  19. ^ Eddie Makuch (21 April 2015). "Rock Band 4 Will Be Co-Published By Peripheral Company Mad Catz". Gamespot.com. Archived from the original on 21 June 2023. Retrieved 21 April 2015.
  20. ^ "Mad Catz Teams Up With Cloud Imperium Games to Create Dedicated Saitek Branded Star Citizen Hardware". Globenewswire.com (Press release). 3 August 2015. Retrieved 4 August 2015.
  21. ^ [1] [permanent dead link]
  22. ^ Christian Nutt (9 February 2016). "Mad Catz lays off 37% of staff in restructuring plan". Gamasutra. Archived from the original on 11 February 2016. Retrieved 10 February 2015.
  23. ^ Alex Wawro (8 February 2016). "Top brass resign amid MadCatz executive shuffle". Gamasutra. Archived from the original on 10 February 2016. Retrieved 10 February 2016.
  24. ^ "Creating a More Immersive Gaming Experience – Logitech Acquires Saitek". Blog.logitech.com. Archived from the original on 18 September 2016. Retrieved 16 September 2016.
  25. ^ Wawro, Alex (23 March 2017). "Mad Catz is being delisted from the New York Stock Exchange". Gamasutra. Archived from the original on 24 March 2017. Retrieved 23 March 2017.
  26. ^ "BRIEF-Mad Catz Interactive makes voluntary assignment in bankruptcy". Reuters. 31 March 2017. Archived from the original on 31 March 2017. Retrieved 31 March 2017.
  27. ^ YuHaoSyu. "MAD CATZ". Mad Catz official (in Chinese). Archived from the original on 27 April 2021. Retrieved 24 January 2021.
  28. ^ "Gaming Mice, Keyboards, Fightsticks and Headsets | Mad Catz". Madcatz.com. Archived from the original on 4 January 2018. Retrieved 4 January 2018.
  29. ^ "Mad Catz Set to Showcase "Yatagarasu Enter the Eastward" at CES 2024" (Press release). Hong Kong: Mad Catz Global Limited. Business Wire. 2 January 2024. Retrieved 8 January 2024.
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