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Benzinga
Benzinga
Business
Anusuya Lahiri

Former Sony PlayStation Executive Floats $225M Gaming SPAC

  • Jack Tretton, the former CEO of Sony Group Corp's (NYSE:SONY) Sony Computer Entertainment America, led a $225 million special-purpose acquisition company (SPAC) pursuing a deal in the video game industry.
  • Tretton is known for making the PlayStation a popular gaming console.
  • Tretton is now the CEO of PowerUp Acquisition Corp.
  • PowerUp looks to acquire a company in the interactive media space that focuses on video games but is open to choosing a company in any industry. 
  • Bruce Hack serves as PowerUp's Executive Chairman. Hack was a director then chairman of Technicolor SA from 2010 to 2019. Hack has held the roles of Vivendi SE (OTC:VIVEF) (OTC:VIVHY), Vivendi Games' CEO, and Activision Blizzard Inc (NASDAQ:ATVI) Vice Chairman.
  • Price Action: SONY shares traded lower by 0.39% at $125.43 in the premarket session on the last check Friday.
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