commentary Global Gaming Factory X, the little Swedish software company dogged by controversy, is facing another deadline to complete its acquisition of The Pirate Bay.
Hans Pandeya, Global Gaming's much maligned CEO, has said the deal would be completed by Wednesday.
Typically, in anticipation of a big acquisition story, I'll collect background on the companies the night before so I can have a few graphs ready when the deal is announced. The only things I'll collect Tuesday evening is a nice piece of salmon and bottle of white wine.
That is because there's a better chance that the salmon will leap from my plate and produce a signed contract with The Pirate Bay guys than there is that Global Gaming will complete the transaction. Anybody who has followed Global Gaming's story knows how truth-challenged the company has been.
Here's my prediction for tomorrow's events: Pandeya will issue yet another press release claiming his company's acquisition of The Pirate Bay has been held up yet again. Expect him to blame the latest delay on the persecution he and his company have suffered at the hands of the media, former business partners, the stock exchange it was formerly listed on, etc.
He may set another deadline.
If he does, it will be at least his third. When Global Gaming, a Swedish software maker and Internet cafe operator, announced in June that it would acquire The Pirate Bay--one of the world's most popular and controversial BitTorrent search engines--Pandeya said the deal would be completed in August. But August came and went without producing a deal.
The Swedish stock market where Global Gaming's shares once traded booted the company off for providing false information. According to the stock exchange, Global Gaming said it had the money in place to complete the acquisition (false), licensing deals with entertainment companies (false), and it had investors (if they existed they never appeared).
Here's an example of how Pandeya's view of the facts can be fluid. Over the weekend, I learned that a Swedish court had taken control of his personal assets after a former business partner claimed Pandeya owed him money.
I e-mailed Pandeya to tell him I was writing about the court's decision and asked him if he wished to comment.
"I can assure you that I will take legal action against CNET if you spread these lies," the CEO wrote.
I e-mailed to him a copy of the court order. From Pandeya came only silence for a while and then a statement slamming his former business partner and the claim that the acquisition will be completed on Wednesday.
To tell the truth, from a strictly storytelling standpoint, I've found the Global Gaming fiasco amusing.
It can't be funny, however, to investors in Global Gaming who lost money.