October 7, 2022

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Amazon is not expected to bid on Electronic Arts

Amazon is not expected to bid on Electronic Arts

Amazon He is not expected to make a takeover offer electronic artssources told CNBC’s David Faber on Friday.

EA shares jumped more than 4% in afternoon trading after USA Today mentioned Amazon will announce on Friday that it plans to bid for the video game publisher, known for its successful titles including FIFA, Madden and Apex Legends.

Faber dismissed the report on CNBC’s Squawk Box. “Nothing is happening,” he said, citing sources.

An Amazon spokesperson said the company does not comment on rumors or speculation. An EA spokesperson declined to comment.

If Amazon wants to seriously pursue EA, it could help boost the retail gaming giant’s presence. Amazon already owns Twitch, streaming service Popular among gamers, it launched its own cloud gaming service, called Lunaand offers gaming privileges as part of its Prime loyalty program.

Amazon has been busy on the merger and acquisition front. Earlier this month, Amazon He said plan to get it iRobot, best known for its robotic Roomba vacuum cleaner, for $1.7 billion. The announcement came just two weeks after that He said It will buy boutique primary care chain One Medical for $3.9 billion.

The gaming industry has seen some consolidation this year. in january, Microsoft He said she would buy Activision Blizzard In a deal valued at $68.7 billion. And in May, Take-Two Interactive. interactive It said it would acquire Zynga for $11 billion.

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