Is Electronic Arts Looking For A Buyer?
Posted on Thursday, August 16 @ 18:57:04 Eastern by Daniel Bischoff
Electronic Arts, one of the biggest publishers in the video game industry, may be looking to sell to an outside buyer. The company behind SimCity and The Sims, Madden, and everything from DICE, the only studio in competition with Call of Duty, is apparently eager to sell for as much as $20 a share.
Speaking with an unnamed source close to the company, The New York Post reports that EA could sell to two private-equity giants: KKR and Providence Equity Partners. The source says the potential sale is still in its early stages, while Michael Pachter states that EA is wrestling with "the handheld casual market, [which] has evaporated because of tablets. The problem is they're in the fifth year of a three-year turnaround."
The company has responded with your typical "no comment," but is this really something that could happen? EA's stock is around $13. We'll report more as its revealed.
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