Shares of Google were gaining 0.3% to $1203.83 Wednesday.
The Internet giant acquired several assets of Green Throttle including parts, labor, and two co-founders Matt Crowley and Karl Townsend according to a report from PandoDaily. The third co-founder, Charles Huang, who helped create the Guitar Hero franchise of games, maintains ownership of Green Throttle.
Terms of the deal were not disclosed.
Green Throttle created an ecosystem of games for Android devices that included a Bluetooth controller. The system let gamers play games from their Android devices on their TV. Arena, the service for accessing the games, was discontinued in November 2012.
It was previously rumored that Google is working on an Android-powered TV set-top box that could have a gaming focus. The Green Throttle asset acquisition could help with such a project.
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TheStreet Ratings team rates GOOGLE INC as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOOGLE INC (GOOG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."