Amazon not expected to bid for Electronic Arts

Amazon is not expected to make a suggestion to purchase Electronic Arts, sources informed CNBC’s David Faber on Friday.

EA shares jumped greater than 4% in early buying and selling after USA Today reported Amazon would announce Friday that it plans to bid for the online game writer, which is thought for hit titles together with FIFA, Madden and Apex Legends.

Faber dismissed the report on CNBC’s Squawk Box. “There’s nothing going on,” he stated, citing sources.

An Amazon spokesperson stated the corporate would not touch upon rumors or hypothesis. Representatives from EA did not instantly reply to a request for touch upon USA Today’s report.

If Amazon had been to pursue EA in earnest, it may assist shore up the retail behemoth’s gaming presence. Amazon already owns Twitch, a streaming service standard amongst players, has launched its personal cloud gaming service, referred to as Luna, and it presents gaming perks as a part of its Prime loyalty program.

Amazon has been busy on the M&A entrance. Earlier this month, Amazon stated it plans to purchase iRobot, finest recognized for its robotic vacuum Roomba, for $1.7 billion. The announcement got here simply two weeks after it stated it could purchase boutique primary-care chain One Medical for $3.9 billion.

The gaming trade has skilled some consolidation this 12 months. In January, Microsoft stated it could purchase Activision Blizzard in a $68.7 billion deal. And in May, Take-Two Interactive stated it could purchase Zynga for $11 billion.

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