) recently announced the acquisition of Double Helix Games, a
game studio. The news follows rumors of the online
retailer's plans to launch an Android-powered game console later
this year. However, the details and financial terms of the deal
have not been disclosed by either of the parties.
Double Helix Games is an independent games studio formed
through the merger of The Collective, Inc. and Shiny
Entertainment. It's most popular release to date is Killer
) Xbox One. It is currently working on Strider, which is likely
to be launched on PS3 this month.
Amazon plans to absorb roughly 75 employees of Double Helix
Rumor has it that Amazon, the world's largest online retailer,
is set to enter the video game console market dominated by
existing consoles such as Sony Corporation's PS4, Microsoft's
Xbox One and Nintendo's Wii U.
Thus, the latest move is expected to strengthen its efforts to
set foot in the gaming space. The acquisition will also bring in
eminent talent and IP to Amazon.
Amazon introduced a game studio in 2012 that focuses on
creating innovative, fun and well-crafted games. It has released
several games including Living Classics for
) and Air Patriots for
) Play store. It has been building its game development staff and
listing openings for numerous programming and engineering
Also, Amazon primarily sells hardware with the intention of
creating a platform for media sales. Therefore, this acquisition
will help it in building an innovative product, which would in
turn boost its media revenues going forward.
Currently, Amazon carries a Zacks Rank #4 (Sell).
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