Magnet Interactive Studios was a software development company based in Georgetown. Founded in 1989 by designer Greg Johnson as a print and 3D design firm and later joined by businessman Basel Dalloul, the company saw a short-lived software and video game business in the mid-1990s as a subsidiary of the Magnet Interactive Group holding company. The studio was shut down in 1996 after demand dropped due to the advent of the Internet, firing its employees. Only Magnet Interactive Communications, a web development company and separate subsidiary, remained operational.