EA makes bid to buy Take-Two Interactive Software Inc.

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Electronic Arts logoVancouver-based video game developer and publisher Electronic Arts is making another bid to purchase New York-based Take-Two Interactive makers of the very popular Grand Theft Auto franchise. According to the announcement, EA has offered $26 per share of Take-Two increasing an earlier offer by $1. EA is interested in getting a hold of Take-Two before the release of Grand Theft Auto IV while Take-Two prefers to wait until after the release to negotiate with EA. The truth is that if GTA IV is successful then Take-Two can ask for a higher price from EA although the latter have made an offer that places a 65% premium on Take-Two’s stock price at closing last Friday.

The video game market is worth $18 billion making it a more lucrative market when, for example, we compare it to the movie industry. It will be interesting to see how it all plays out in the end but I hope that gamers are not hurt from all this with delays in new releases and low quality/rushed games.



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Posted by Peter 25.Feb.08

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