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EA: Harmonix acquisition 'not on our radar'

CEO says buying the Rock Band dev would be like trying to "catch a falling knife"

Electronic Arts might be the distributor of the Rock Band franchise, and developer Harmonix is up for sale, but CEO John Riccitiello says buying the studio isn't on its radar, despite the fact that such a move would make "theoretical" sense.

The exec told Bloomberg that he's interested in deals that add technology, capability and intellectual property to the FIFA and Medal of Honor publisher.

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"I don't need a billion-dollar acquisition," he told Bloomberg. "There is going to be a time when perception catches up with the facts.

"We're still out of favour. Moves that look like I'm doubling down on yesterday would make it harder still to convince investors that tomorrow is the Promised Land."

He added of Harmonix: "I'm sure some smart investor will buy the business feeling that they can catch a falling knife, but more people have been cut trying to catch falling knives than have benefited from getting the timing exactly right."

That's not to say EA isn't on the hunt for acquisitions. "There are probably 25 companies on our radar that would make sense for us at somewhere between five and ten per cent of the asking price," said Riccitiello.

[ SOURCE: Bloomberg ]

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