Jack Tretton is one of the most important characters in the history of PlayStation as he was there when Sony made the decision to bet on the console sector and rose to become president and director of what was DSony Computer Entertainment America from 2006 to 2014 Seven years after his departure from PlayStation, the manager is back and leads a major purchase intention in the video game industry.
Jack Tretton is back in the game
A report from Bloomberg revealed that PowerUp Acquisition Corp., a company specializing in acquisitions worth $ 225 million, whose CEO is Jack Tretton, presented its acquisition intentions to the Securities and Exchange Commission. According to the information, the first option of this company is to carry out an operation in the video game sector and for the moment that will be its priority, however, it also notified that in the event that an agreement is not reached, they will opt for other types of acquisitions.
In this case, the company is a Special Purpose Acquisition Company (SPAC) or a company with no operational activity, but whose shares are planned for acquisitions or mergers, so it could also be an important negotiating agent in operations in the gaming industry.
Jack Tretton, the former CEO of Sony Computer Entertainment America who helped make the PlayStation a popular gaming console, is leading a $225 million SPAC that’s pursuing a deal in the video-game industry https://t.co/KT5BGmC0qd
— Bloomberg (@business) December 30, 2021
In recent years, company and license acquisitions have increased in the video game industry, perhaps anticipating a future full of services and where the bargaining power is had from the legal possession of companies, studios and their respective works. So far there is no more information about the objective of Jack Tretton and PowerUp Acquisition Corp., but it cannot be ignored that the market is moving and the industry is changing in a significant way.
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