Will Video Game Patent Holder Score $2 Billion?
Playing games pays big, at least it could for the patent holders of Grand Theft Auto®, according to an article in February 26th’s online edition of The New York Times, in the Technology section. Take Two Interactive, a game developer across the country from this Florida Patent Attorney, is currently being pursued for acquisition by formidable player in the video game world–Electronic Arts. They have offered Take Two $2 billion dollars.
However, Take Two Interactive has yet to concede. Perhaps, the non Florida patent holders are waiting to see if Electronic Arts will up the ante. Grand Theft Auto®, in its various versions, has sold nearly 65 million copies. Company executives say they will not entertain any offers until after April 29th, when Grand Theft Auto IV is scheduled for release.
While the various patents held by Take Two Interactive for the Grand Theft Auto® series is a big success, Take Two Interactive and other financial analysts are wondering whether that value may well increase. As of Friday, February 22nd, Take Two’s stock value was $17/share, and while Electronic Arts has offered $26/share, one particular analysist, Daniel Ernst of Soleil Hudson Square Research, speculates that their stock may increase to $30/share.
Electronic Arts says they believe Take Two should take their offer, because they are a "depreciating value," but wouldn’t you expect to hear that from the potential purchaser? As a Florida Patent Attorney, I’m always excited to see the windfall a worthwhile patent can produce. I’ll keep you posted on other news on this acquisition.