EA thinks twice about Take-Two acquisition

15 Sep 2008

Games giant EA has decided it will not be pursuing its proposed US$2bn acquisition of Take-Two Interactive, the games publisher responsible for iconic titles such as Grand Theft Auto, Bioshock and Manhunt.

Instead EA, the publisher behind games such as The Sims, will focus its capital and energy on developing promising new titles like Spore.

The company said it took the decision after careful consideration, “including a management presentation and a review of other due diligence materials provided by Take-Two Interactive.”

As a result, it has decided not to buy Take-Two and has terminated all discussions with the company.

“EA is tracking toward a record-breaking year,” said chief executive, John Riccitiello.

“We’re launching 15 new games including award-winners like Spore, Dead Space and Mirror’s Edge, great new titles from The Sims, new family titles with Hasbro and the highest-quality slate of EA SPORTS titles on this generation of consoles.

“We’re also expanding beyond our core business with a series of direct-to-consumer launches including Warhammer Online,” Riccitiello said.

By John Kennedy

Pictured: gaming action from one of EA Games most popular titles, Grand Theft Auto

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years