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Take Two doesn’t “invest in headlines”

Wednesday, 11th December 2013 22:51 GMT By Brenna Hillier

Take Two doesn’t make mergers and acquisitions because it wants attention from the press, so don’t expect it to drop a gazillion monkeys on the latest and greatest social sensation.

Speaking at the BMO Capital Markets Technology and Digital Media Conference, as reported by GamesIndustry, Take Two company president Karl Slatoff said the publisher isn’t rushing to purchase new studios and expand its product range.

“We don’t look to invest in headlines. We don’t deploy hundreds of millions of dollars into social gaming because that’s what everybody wants to talk about, or into a mobile gaming company that has one product,” he said.

“That’s not what we do. That’s not something for us that is an investment that makes a lot of sense. You might get lucky, but ‘a wing and a prayer’ is not necessarily a good investment strategy.”

Slatoff said that “first and foremost” the best use of Take Two’s capital is to invest in what it does best.

“What we do best is to engage in developing core games that we think could become hit products and ultimately long-term value as franchises,” he said.

Take Two picked up Turtle Rock’s Evolve in the THQ auction sale in January, but that was the first major purchase it had made in ages.

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