Electronic Arts acquires Industrial Toys
Market leading video game developer and producer, Electronic Arts, has acquired Industrial Toys – the company behind a number of ambitious mobile games. The studio is only six years old, but it’s had top talent behind it from the get-go: co-founder Alex Seropian is the founder and former CEO of Bungie Studios (best known for blockbuster successes Halo and Destiny). The idea behind Industrial Toys was simple: to bring first-person shooter games to mobile platforms. If that’s a simple idea, the reality of creating console-like experiences on mobile devices is anything but.
Electronic Arts’ share price has risen by 38% so far this year
SOURCE: Yahoo Finance
In the end, Industrial Toys focused on hybrid games that had the flavour of big console titles, but were specially adapted to mobile functionality, such as Midnight Star.
Samantha Ryan, senior vice president and group general manager at Electronic Arts Worldwide Studios Group, made the following comment: “Creating breakthrough games takes passionate developers and incredible creativity, and each time we’ve worked with the Industrial Toys team, we’ve been inspired by their unique approach. We’re thrilled to have them join our studio organization, pursue new ideas together and bring amazing new games to our players.”
The acquisition, which closed this month, was for an undisclosed sum. It’s latest in a short spate of purchases that signal Electronic Arts is pursuing novel studios again after a long lull. In November last year, it bought Respawn (the studio behind Titanfall) for $455 million, and in May this year, it purchased the cloud-streaming assets of GameFly.
Dominion holds Electronic Arts in its Global Trends Luxury Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.