What happened

Uncharacteristic of recent technological stocks, Take-Two Interactive Software (TTWO: 0.25%) The stock market rose on Wednesday. Shares of the company rose almost 0.3%, a good performance when matched by a slide of about 1%. S&P 500: indicator of the day.

And what

Take-Two’s news of the day was that its Private Division publishing group is expanding. Celebrating the unit’s fifth anniversary, it announced the launch of the Private Unit Development Fund. This is a facility aimed at supporting the work of small developers working with a publisher.

“We never like to say no to an incredible game concept given the scope of a project, and the Private Division Development Fund gives us the opportunity to identify and support some of the best creative ideas our industry has to offer,” Private Division head. Business Development quotes Blake Rochkind

The Take-Two unit also announced that it has signed a publishing deal with Polish developer Bloober Team. This is a team focused on psychological horror games, and according to their agreement, it will develop a title in that genre with Private Division. The specifics of this game have not been revealed, although it has been stated that it will not be released until 2025.

What now

One of the most important aspects of any video game company is its pipeline, and with this latest announcement, it looks like Take-Two’s private equity division is keeping itself very busy. The development fund is a particularly interesting move, as it can either lead to the production of “dormant” titles or provide talent and ideas for future blockbusters, depending on how it’s managed.

Eric Volkman has no position in any of the listed stocks. The Motley Fool has positions in and recommends Take-Two Interactive Software. The Motley Fool recommends the following options: Long January 2023 $115 Calls Take-Two Interactive Software. The Motley Fool has a disclosure policy.

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