Take-Two Interactive Software has sold "substantially all" of the assets of its wholly owned Joytech video game accessories subsidiary to Mad Catz Interactive. The Joytech sale reflects Take-Two's previously announced plans to divest its non-core businesses.

"The sale of the Joytech assets is consistent with one of the key goals we established in our 100 Day Plan: to develop strategic alternatives for any operations that we determined to be outside our core publishing business," said Ben Feder, Take-Two's Chief Executive Officer. "We are particularly pleased that we accomplished this goal in a manner that will allow substantially all of our Joytech employees in the US and UK to join Mad Catz, which is a highly respected provider of video game peripherals."

The Joytech sale is not expected to be material to Take-Two's financial results.