It’s a common refrain we’re hearing in the recession: Cash-rich companies talking up tough times as a good opportunity to make acquisitions cheap. We heard IAC (IACI) say it, we heard MySpace (NWS) say it, and now Activision Blizzard (ATVI) is thinking about acquisitions too.
Which raises the question: Who (or what) might Activision buy? Well, for starters, the video game publisher lacks a good fighting game in its portfolio, and we know Midway Games execs are desperate to offload the Mortal Kombat IP..
Bloomberg: Activision Blizzard Inc., with $3 billion in cash and no debt, will consider acquisitions as the recession brings down the prices of potential targets, the company’s top publishing executive said.
“The combination of Activision holding a fair amount of cash and presumably prices being depressed, not only for publicly traded companies, but also likely for new intellectual property licensing rights, should certainly create opportunities,” Mike Griffith said yesterday in an interview in San Francisco.
The company, the world’s largest video-game publisher, is seeking to fill holes in its product line and expand internationally, said Griffith, a former Procter & Gamble Co. executive who is now president and chief executive of Activision Publishing.