Also Jack Trettonformer boss of PlayStationwants to invest in a video game company, just like large companies including Tencent and Microsoft, to name a couple, which have acquired other companies in this period.
Tretton said it has launched PowerUp, a new company whose name has no originality but the goal is to acquire video game companies. In detail, this is called SPAC, which is special purpose acquisition company. The only objective of this type of structure is to incorporate small private companies into a larger one that will be able to go public.
In PowerUp, small independent businesses will need to retain some autonomy, as Tretton says his company will serve more as a mentor. Independent firms can then leverage the group to raise funds from investors who most often rely on a large, publicly traded company.
For now, Tretton’s goal is to look for companies worth between $ 1 billion and $ 2 billion, as long as they are independent.
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