What does a company like Activision Blizzard do when sitting on $3 billion in cash with no debt while many gaming companies flounder in the face of an economic recession? They go shopping.
Activision Blizzard's top publishing executive Mike Griffith told Bloomberg that the current economic climate is perfect for creating acquisition possibilities, whether they be game companies or intellectual property rights held by companies hungry to make a quick buck.
"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"
So who is on the menu? Griffith wouldn't say, but don't worry. Activision Blizzard didn't become the world's largest video game publisher by making rash decisions. "We won't rush to judgment just because we have cash. We will be very disciplined."
Activision Looks for Acquisitions Amid Recession, Griffith Says [Bloomberg]