Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, August 2, 2011

Sony's video game unit buys Sucker Punch studio, (NASDAQ: ERTS)

Sony Computer Entertainment said on Tuesday it was buying Sucker Punch Productions, the studio behind the "inFamous" franchise, as Sony Corp's (6758.T) unit tries to expand its portfolio of original video games. Sucker Punch, based in Bellevue, Washington, has 75 employees, according to Sony. The financial terms of the deal were undisclosed. The video game industry has been rife with consolidation in recent months. In July, Electronic Arts Inc (ERTS.O) said it was acquiring PopCap games, another company based in the Seattle area, in a deal worth up to $1.3 billion. Sucker Punch's action adventure game, "inFamous 2," was the top selling software title in June, according to research firm NPD.

Electronic Arts Inc. develops, markets, publishes and distributes game software and content that can be played by consumers on a variety of video game machines and electronic devices (platforms), including video game consoles, such as the Sony PLAYSTATION 3, Microsoft Xbox 360 and Nintendo Wii; personal computers, including the Apple Macintosh (the Company refers to personal computers and the Macintosh together as PCs); mobile phones, such as the Apple iPhone, Google Android compatible phones, and feature phones; tablets and electronic readers, such as the Apple iPad and the Amazon Kindle, and the Internet, including on social networking sites, such as Facebook, and Handheld game players, such as the Sony PlayStation Portable (PSP) and Nintendo DS and 3DS. Shares of ERTS remained unchanged at $21.95. In the past year, the shares have traded as low as $14.67 and as high as $25.05. On average, 6107110 shares of ERTS exchange hands on a given day and today's volume is recorded at 0.



Source