Visual Concepts

Visual Concepts Entertainment is an American video game developer based in Novato, California. Founded in May 1988, the company is best known for sport games in the 2K franchise. Visual Concepts was acquired by Sega in May 1999 and subsequently sold to Take-Two Interactive in January 2005. The acquisition of the company led Take-Two Interactive to open their 2K Games label, as well as its 2K Sports division, on the following day, which Visual Concepts became immediately part of.

History
Visual Concepts was founded in May 1988 by programmer Scott Patterson and brothers Greg and Jeff Thomas, and originally based in a small office above a bank in Novato, California. On January 25, 1995, Electronic Arts announced that they had acquired a stake in the company. In September 1997, Sega announced their intentions to acquire the company; the deal was closed on May 18, 1999, and Visual Concepts switched ownership for an undisclosed sum. In June 2004, a deal was made between Sega and Take-Two Interactive, wherein the two would co-publish and distribute titles in Visual Concepts' ESPN-based game series. On January 24, 2005, Take-Two Interactive announced to have completed a transaction of $24 million to Sega for the acquisition of Visual Concepts, its subsidiary Kush Games, and the rights to the 2K franchise. The publisher's 2006 Form 10-K filing later showed that a total of $32.2 million had been paid to Sega for the acquisition of Visual Concepts and affiliate properties by January 2006. On January 25, 2005, the day following the acquisition, Take-Two Interactive announced their new publishing label, 2K Games, and its 2K Sports division, the latter of which would henceforth manage Visual Concepts and Kush Games.