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Activision Going Shopping!

As reported by Bloomberg, Activision Blizzard Inc., with $3 billion in cash and no debt, will consider acquisitions as the recession brings down the prices of potential targets, according to Activision Publishing President and CEO Mike Griffith.

"The combination of Activision holding a fair amount of cash and presumably prices being depressed, not only for publicly traded companies, but also likely for new intellectual property licensing rights, should certainly create opportunities," Griffith said yesterday in an interview.

The world's largest videogame publisher is seeking to fill holes in its product line and expand internationally, said Griffith, a former Procter & Gamble Co. executive.

Later this year, Activision will release a racing game, an as-yet unnamed title from an acquired studio. Singularity, developed by Raven Software, will also be coming in 2009. DJ Hero will expand on the popular Guitar Hero franchise.

Activision stock rose 13 cents, or 1.3 percent, to $10 at 10:19 a.m. New York time in Nasdaq Stock Market trading. Before today, the shares had fallen 28 percent in the past year.

The company passed Electronic Arts, Inc. as the largest game publisher last year after merging with the games division of Vivendi SA in a $9.8 billion deal.

Griffith didn't mention specific targets, adding, "We won't rush to judgment just because we have cash. We will be very disciplined."

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