Game reseller uses IPO funds to buy inventory

March 17, 2010

Game Trading Technologies Inc., a Hunt Valley company that refurbishes and resells video games and consoles, said Tuesday it used proceeds from a recent public offering to buy 320,000 used video games and accessories. Earlier this month, the company raised $3.9 million from investors and said it would use the money to expand its business. Jody Janson, a company spokesman, said the used-game acquisition was the second-largest in the company's seven-year history. The used video game market remains a lucrative industry, as video games and consoles have proliferated but consumers are looking for bargains in a recession. A spokesman said Game Trading plans to refurbish, repackage and resell the used video games and accessories it recently bought to retailers, such as 7-Eleven, who can sell them to consumers. The company declined to disclose how much money it spent on buying the used games and hardware.

- Gus G. Sentementes

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