Looking to scoop up a gently used videogame company? Electronic Arts has been reportedly put itself up for sale.
In an exclusive report from the New York Post, it has been revealed that EA has been purchasing back shares of stock, and a source close to EA has stated that once the company’s shares reach $20 apiece, then they’ll be ready to do business. Currently, they’re resting at $13.67/share. Showing interest in the EA deal are KKR and Providence Equity Partners. These two have approached the industry giant with proposed offers, but neither company would comment at the time.
For a while now, Electronic Arts has been fighting the decline in the videogame economy. Several causes include the increase in used sales, preventing first-party companies from seeing any profit, or the increase in free-to-play and mobile gaming. EA has tried countermeasures such as charging for online play for those who picked up a used copy of a game such as Battlefield 3.
Notorious for purchasing several other companies like BioWare and PopCap Games, it will be interesting to see what becomes of this situation once EA makes their final decision.