We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SONY to Boost Live Service Game Experience With Haven Buyout
Read MoreHide Full Article
Sony Group Corporation’s (SONY - Free Report) subsidiary —Sony Interactive Entertainment (“SIE”) — recently announced that it has entered into an agreement to acquire Montreal-based Haven Entertainment Studios, founded and led by veteran game designer Jade Raymond. The terms of the deal, including the acquisition cost, are still under wraps.
Founded a year ago with an initial investment from SIE, Haven includes game creators with more than a decade of expertise working on some of the industry’s most popular games. Raymond is one of the game industry’s most creative developers. She previously founded Ubisoft Toronto and Motive Studios and is one of the imaginative minds behind the Assassin’s Creed franchise. She commenced her career in gaming with Sony back in 1998. Raymond established Haven Studios after leading Google’s first-party games studio for Stadia, which was shut down last year.
In March 2021, Haven and Sony had announced a partnership for a new studio to create original games for PlayStation.
With the acquisition of Haven, PlayStation Studios will welcome its first Canada-based game development studio. The studio’s focus will be on creating an original AAA multiplayer game that will fully embrace the incredible capabilities of PlayStation 5 and will further build upon the diverse categories of gaming experiences that can only be found on PlayStation. The gaming experience will be focused on delivering freedom, thrill and playfulness, keeping players entertained and engaged for years. It will also inspire players and allow them to connect in new ways.
Both the companies are highly optimistic about this buyout. Haven is dedicated to building a player-first, collaborative game environment that can last for generations. The studio has an industry-leading team possessing the creative and technical expertise necessary to achieve ambitious goals.
The landmark consolidation deal will see Haven join Sony’s PlayStation family. In fact, Haven will be the 18th studio to join PlayStation. Becoming part of PlayStation Studios will provide Haven with unparalleled support to focus on building the highest quality games. The company plans to work on a new live service experience for PlayStation built upon a systemic and evolving world. The studio operations will continue to be run by the management team at Haven in close collaboration with PlayStation Studios’ leadership team.
The COVID-19 crisis has triggered an acceleration in gaming activity worldwide. With tech firms scouting new ways to increase their revenue-generating streams, the video game industry is sparing no effort to tap lucrative opportunities resulting from the surge in demand created by the pandemic. Against this backdrop, Sony’s latest blockbuster buyout will enable it to reach new heights on the back of an incredible leadership team.
The company is also focused on expanding its gaming business through an inorganic growth strategy. The Haven acquisition follows Sony’s recent major announcement to acquire Destiny creator Bungie in a deal worth $3.6 billion.
Both these acquisitions underscore Sony’s intent to get into live service games in a big way. Thanks to such frequent buyouts of video game studios, Sony now has access to state-of-the-art knowledge in multi-platform development and live game services, positioning it well to compete with successful live service games like Fortnite and Call of Duty.
Sony currently has a Zacks Rank #3 (Hold). Shares of SONY have lost 2.3% compared with the industry’s fall of 5.7% in the past year.
Badger Meter has a projected earnings growth rate of 5.77% for 2022. The Zacks Consensus Estimate for Badger Meter’s 2022 earnings has been revised upward by 19 cents in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and met estimates once, the average surprise being 14%. Shares of BMI have gained 4.9% in the past year.
NETGEAR has a projected earnings growth rate of 31.46% for 2023. The Zacks Consensus Estimate for NETGEAR’s 2023 earnings has been revised downward by 7 cents in the past 90 days.
NETGEAR’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed estimates once, the average surprise being 35.5%. Shares of NTGR have plunged 44% in the past year.
Iridium has a projected earnings growth rate of 271.43% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by a penny in the past 90 days.
Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met estimates twice, the average surprise being 39.4%. Shares of IRDM have gained 3.3% in the past year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
SONY to Boost Live Service Game Experience With Haven Buyout
Sony Group Corporation’s (SONY - Free Report) subsidiary —Sony Interactive Entertainment (“SIE”) — recently announced that it has entered into an agreement to acquire Montreal-based Haven Entertainment Studios, founded and led by veteran game designer Jade Raymond. The terms of the deal, including the acquisition cost, are still under wraps.
Founded a year ago with an initial investment from SIE, Haven includes game creators with more than a decade of expertise working on some of the industry’s most popular games. Raymond is one of the game industry’s most creative developers. She previously founded Ubisoft Toronto and Motive Studios and is one of the imaginative minds behind the Assassin’s Creed franchise. She commenced her career in gaming with Sony back in 1998. Raymond established Haven Studios after leading Google’s first-party games studio for Stadia, which was shut down last year.
In March 2021, Haven and Sony had announced a partnership for a new studio to create original games for PlayStation.
With the acquisition of Haven, PlayStation Studios will welcome its first Canada-based game development studio. The studio’s focus will be on creating an original AAA multiplayer game that will fully embrace the incredible capabilities of PlayStation 5 and will further build upon the diverse categories of gaming experiences that can only be found on PlayStation. The gaming experience will be focused on delivering freedom, thrill and playfulness, keeping players entertained and engaged for years. It will also inspire players and allow them to connect in new ways.
Both the companies are highly optimistic about this buyout. Haven is dedicated to building a player-first, collaborative game environment that can last for generations. The studio has an industry-leading team possessing the creative and technical expertise necessary to achieve ambitious goals.
The landmark consolidation deal will see Haven join Sony’s PlayStation family. In fact, Haven will be the 18th studio to join PlayStation. Becoming part of PlayStation Studios will provide Haven with unparalleled support to focus on building the highest quality games. The company plans to work on a new live service experience for PlayStation built upon a systemic and evolving world. The studio operations will continue to be run by the management team at Haven in close collaboration with PlayStation Studios’ leadership team.
The COVID-19 crisis has triggered an acceleration in gaming activity worldwide. With tech firms scouting new ways to increase their revenue-generating streams, the video game industry is sparing no effort to tap lucrative opportunities resulting from the surge in demand created by the pandemic. Against this backdrop, Sony’s latest blockbuster buyout will enable it to reach new heights on the back of an incredible leadership team.
The company is also focused on expanding its gaming business through an inorganic growth strategy. The Haven acquisition follows Sony’s recent major announcement to acquire Destiny creator Bungie in a deal worth $3.6 billion.
Both these acquisitions underscore Sony’s intent to get into live service games in a big way. Thanks to such frequent buyouts of video game studios, Sony now has access to state-of-the-art knowledge in multi-platform development and live game services, positioning it well to compete with successful live service games like Fortnite and Call of Duty.
Sony currently has a Zacks Rank #3 (Hold). Shares of SONY have lost 2.3% compared with the industry’s fall of 5.7% in the past year.
Image Source: Zacks Investment Research
Key Picks
Some better-ranked stocks from the broader technology space are Badger Meter (BMI - Free Report) , NETGEAR (NTGR - Free Report) and Iridium Communications (IRDM - Free Report) . While Badger Meter sports a Zacks Rank #1 (Strong Buy), NETGEAR and Iridium carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Badger Meter has a projected earnings growth rate of 5.77% for 2022. The Zacks Consensus Estimate for Badger Meter’s 2022 earnings has been revised upward by 19 cents in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and met estimates once, the average surprise being 14%. Shares of BMI have gained 4.9% in the past year.
NETGEAR has a projected earnings growth rate of 31.46% for 2023. The Zacks Consensus Estimate for NETGEAR’s 2023 earnings has been revised downward by 7 cents in the past 90 days.
NETGEAR’s earnings beat the Zacks Consensus Estimate in three of the last four quarters and missed estimates once, the average surprise being 35.5%. Shares of NTGR have plunged 44% in the past year.
Iridium has a projected earnings growth rate of 271.43% for 2022. The Zacks Consensus Estimate for Iridium’s 2022 earnings has been revised upward by a penny in the past 90 days.
Iridium’s earnings beat the Zacks Consensus Estimate in two of the last four quarters and met estimates twice, the average surprise being 39.4%. Shares of IRDM have gained 3.3% in the past year.