Despite a failed deal with Take-Two Interactive, and a Spore DRM backlash, Eidos Interactive signed an agreement on Monday with Electronic Arts announcing exclusivity to multiregional distribution and licensing rights to selected titles from the their catalog for EA Mobile.
Now, Eidos will provide licenses to EA across all existing mobile channels and mobile devices for four key titles: Tomb Raider Underworld, Just Cause 2, California Games X, and Minesweeper, with a future option on the mobile versions of the majority of Eidos videogames for three years.
Electronic Arts has abandoned its $2 billion bid to acquire rival game maker Take-Two Interactive Software, ending a seven-month takeover effort that turned hostile before the two companies entered private talks last month.
"After careful consideration, including a management presentation and review of other due diligence materials provided by Take-Two Interactive Software, EA has decided not to make a proposal to acquire Take-Two and has terminated discussions with Take-Two," EA said in a statement Sunday.
The announcement brings to a close EA's long-running, but oft-rebuffed, effort to acquire Take-Two.
The video game industry is abuzz over the possibility of Take-Two Interactive and Electronic Arts joining hands and become the world's most powerful video game developer. According to EA, such a move will improve its lineup of games and help consolidate its presence in the industry.
Take-Two hasn't been so delighted about EA's acquisition attempts. The company has let the offer deadlines slip countless times--the last happened just nine days ago--but it still can't quite shake EA. And this time around, the companies have signed a confidentiality agreement that would ensure both sides don't go public with the closed-door proceedings.
Some tout this acquisition as the next logical step for a video game industry that's becoming more consolidated. Others say that EA's takeover of Take-Two could actually increase the value of games and create a company that will offer some of the most impressive titles we have ever seen, thanks to the combined efforts of developers.
That sentiment may ring true in some cases, and every now and then, there's a flash of something unique, but if this acquisition becomes a reality and EA swallows up one of the biggest developers in the industry, it spells trouble for gamers and the industry itself.… Read more
Rival game makers Electronic Arts and Take-Two Interactive Software signed a confidentiality agreement after agreeing to hold private talks about a potential transaction, EA announced Monday in a regulatory filing.
EA, which had unsuccessfully courted Take-Two for six months, announced last week that it was abandoning its $2 billion hostile bid after Take-Two agreed to present its three-year product release schedule and financial forecasts to EA.
"As a result, EA does not intend to make any further announcements regarding the status of any discussions or negotiations with Take-Two unless and until discussions between EA and Take-Two have been terminated … Read more
The federal government would not have stood in the way of an Electronic Arts-Take Two merger, according to documents published to the Federal Trade Commission Web site.
The FTC said it had conducted an investigation of a merger of the companies, but said no further action was required, and closed the investigation, Reuters reported Wednesday.
But the FTC's efforts appear to be moot at this point. After months of pursuing Take Two, EA allowed its hostile bid to expire Monday at midnight.
Spore isn't the only thing on Electronic Arts' mind. The company still wants Take-Two Interactive.
On Monday, CEO John Riccitiello sent an open letter to Take-Two chairman Strauss Zelnick saying that EA's existing offer to acquire the smaller game manufacturer for $25.74 per share would officially expire just before midnight Eastern time on Monday. It sounds like EA is simply losing patience.
"Given the passage of time, we have to validate the assumptions used in the model to support our offer price of $25.74 per share in cash," Riccitiello's letter read. "In … Read more
Want to know more about common digital photography problems like noise and blown-out highlights? Choosing between RAW and JPEG formats? Take Your Best Shot is now available from O'Reilly Media for $34.99. The book is written by Tim Grey, a member of the Photoshop World Dream Team of Instructors who has been answering digital photography questions for years on his popular DDQ: Digital Darkroom Questions daily e-mail newsletter, and his printed Digital Darkroom Quarterly newsletter.
Take Your Best Shot is 252 pages and organized by subject so you can look up any issue. "Today, many photographers feel … Read more
Now here's a trend we can definitely get behind--or in front of, as the case may be: Robo-devices that follow you around. We thought the "Shadow Caddy" was a nice idea but just an isolated novelty when it surfaced last month, but maybe there's more to it after all.
The general idea has been expanded to, of all places, the library with the "Take a Seat Chair." This agreeable robo-concept would theoretically follow whomever activated it with a swipe of the library card across its sensors. It's the brainchild of Dutch designer Jelte … Read more
Electronic Arts announced Tuesday it was extending its tender offer for rival game developer Take-Two Interactive Software to July 18, marking its third extension since launching its hostile bid in March.
EA, which is currently offering Take-Two investors $25.74 a share, said nearly 6.14 million shares have been tendered in, representing approximately 8 percent of Take-Two's shares.
In early morning trading, Take-Two's stock hovered at $26.35 per share.