IAC, Maker of Zwinktopia, Acquires Majority in GarageGames

IAC, the company behind the virtual world and avatar platform Zwinky, announced today that it had acquired a majority of GarageGame's equity.  The two companies have partnered to launch InstantAction.com, a portal for browser-based action games, along with the Game Development Fund to promote the creation of more Web-based games. However, with GarageGame's Torque Engine already in use for IBM's internal metaverse project and in a modified, but widespread version for vSide, the partnership creates new opportunities for the virtual world of Zwinktopia as well.

IAC and GarageGames Announce InstantAction.com, the First Browser-Based Action Game Network

New York - September 18, 2007 - IAC (Nasdaq: IACI) and GarageGames today announced the creation of InstantAction.com, the first Web-based videogame network. Using GarageGames’ industry-leading game development tools, InstantAction.com will provide compelling original action games through a standard Web browser.  IAC has acquired a majority of GarageGames’ equity, and GarageGames’ management team will continue to lead the business as it builds out the InstantAction network.

InstantAction will also launch a Game Development Fund aimed at fostering a new generation of game development for the internet. Introducing new technology which allows graphically rich, networked games to run in popular web browsers with no download installation, InstantAction.com will enable easy access to singleplayer and multiplayer games with core-oriented mechanics and high-end visuals.

“We've been looking at the video game sector for years and it wasn't until we found GarageGames and their idea for InstantAction.com that we believed IAC could participate in a true internet innovation in online gaming,” said Barry Diller, CEO of IAC.

GarageGames’ CEO and CTO Josh Williams appointed Andy Yang of IAC to spearhead the InstantAction network earlier this year.  GarageGames was founded in 1999 and created the Torque Game Engine, the leading platform for independent game development. GarageGames also created Marble Blast Ultra and its industry veteran founders led the development of the popular team-based action game Tribes.

“Working with IAC, we are now able to truly fulfill our vision to enable developers both large and small to deliver innovative ideas on an exciting new accessible platform for gamers,” says Williams. “The InstantAction Fund will invest in talented teams who want to bring high-quality action gaming to everyone in the world through the internet.”

The InstantAction.com site is now live and accepting registrations for early access to its private beta and is expected to launch to the public in early 2008. Its initial portfolio of original core-oriented games from high-profile studios and newly discovered game development talent will be announced in the coming weeks.

About IAC

IAC operates leading and diversified businesses in sectors being transformed by the internet, online and offline... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at http://iac.com.

About GarageGames

GarageGames was founded in 1999 by four industry veterans, Jeff Tunnell, Tim Gift, Rick Overman and Mark Frohnmayer, with the vision of changing the ways games are made and played.  As the makers of the Torque Game Engine series of tools, GarageGames has been providing game development technology at an affordable price for over 7 years and is home to an active community of thousands of licensed independent and aspiring game developers.  The Torque Game Engine was the original technology behind the popular Tribes series of games, and has been used since to develop games on Windows, Mac, Linux, Xbox 360, and Wii, notable among which is GarageGames' own Marble Blast series of games.   GarageGames is located in Eugene, Oregon and on the web at http://www.garagegames.com.