by Christopher Freeburn | February 6, 2014 9:57 am
Internet retailing giant Amazon (AMZN) has confirmed its acquisition of Double Helix, a video game developer.
Amazon did not reveal financial terms of the deal, but Double Helix’s development team and its portfolio gaming titles and technology are included in the purchase. Since its creation in the 2007 merger of gaming studios The Collective and Shiny Entertainment, Double Helix has released a number of popular gaming titles including Killer Instinct, Front Mission Evolved, Latern: Rise of the Manhunters, Silent Hill: Homecoming and G.I. Joe: The Rise of Cobra, TechCrunch notes.
Double Helix has a staff of about 75, which will become employees of Amazon. The company will continue to operate from Irvine, California. Double Helix develops games for both PCs and gaming consoles.
The acquisition gives further fuel to long-standing rumors that Amazon is planning to launch its own gaming console, likely based on Google’s (GOOG) Android operating system.
Amazon shares gained more than 1% in Thursday morning trading. AMZN stock has climbed more than 30% over the past year.
Source URL: http://investorplace.com/2014/02/amazon-buys-videogame-maker-double-helix/
Short URL: http://invstplc.com/1fVPTE1
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.