Round table discussions between two of the biggest US game makers have been taking place since the rejected February 2008 bid from EA (Electronic Arts) to buy Take2 Interactive the makers of Grandtheft Auto and Bio-Shock. EA, most famous for it’s legendary Madden NFL and The Sims Series has made several round-table attempts since February to purchase Take2 Interactive. The lastest offer of $25.74 per share to take over Take2 Interactive was ignored and passed up at it’s August 18th deadline.
This week the US Federal Trades Commission approved the merger however, talks seem to indicate that this might play out much longer still yet.
Last year’s revenue for EA totalled more than 4 Billion dollars and ranked them as one of the top 8 largest software companies in the world. Take2 speculated to be worth around 2 Billion while not quite as big, also has a great bargaining chip on the table with the new release of Grandtheft Auto IV coming out they expect to rake in record profits during this economy down turn.
While theaters and restaurants are struggling, companies such as Dish Network, DirectTV (Hughes), and most of the entire gaming industry are experiencing a huge upturn in sales. Instead familes are opting to stay home for entertainment and save the gas money; in May of this year, the gaming industry posted an astonishing 53% increase in sales. The sales have gone up so much, that XBOX 360’s set for Japan have all sold out, and the US sales are getting close as well. The Nintendo Wii, the first physically interactive gaming system is experiencing the same problem since Christmas 2007, and most stores that carry the system sell out the day they arrive.
For more news on EA, you can visit thier news section .. EA News.
To follow the press with Take2 Interactive you can check out their press release / news section.