RealNetworks to spin off casual games business; company considers IPO

By Lisa Kerner

Charlotte, N.C., May 8 - RealNetworks, Inc. said it plans to spin off its global casual games business into an independent company.

Shares of the newly created games company will be distributed to RealNetworks shareholders, according to a company news release.

The spinoff may be preceded by an initial public offering and sale of up to 20% of the shares of the new games company, the release stated.

"RealNetworks was a pioneer and has been a leader in the casual games industry since we introduced RealArcade in 2001," chairman and chief executive officer Rob Glaser said in the release.

"We believe that spinning off our casual games business will give it the best opportunity to continue to flourish and lead," Glaser added.

The spinoff will give the games business "an industry-specific currency for future acquisitions," according to RealNetworks.

Seattle-based RealNetworks provides network-delivered digital media products and services primarily in the United States, Asia and Europe.

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