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December 1, 2021 4:29 PM
Reggie Fils-Aime retired as president of Nintendo of America in 2019.
Image Credit: Nintendo
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UTA Acquisition Corp. plans to raise $200 million in public funds for a special purpose acquisition company (SPAC) headed by former Nintendo of America CEO Reggie Fils-Aimé and other leaders from United Talent, a Los Angeles game dev agency.
The fund shows how the environment for gaming-related deals is still hot. So far this year, investors have poured $71 billion over the past nine months into gaming acquisitions, investments, and public offerings, according to Drake Star Partners.
The SPAC is a way to take a private company and merge it with a public company to streamline the normally lengthy process for an initial public offering (IPO). Private companies can use a SPAC to raise money quickly, and game companies have taken advantage of this process during the pandemic, which has boosted the values of game companies.
Fils-Aimé became famous as a top executive of Nintendo, serving from 2003 to 2019. But since leaving Nint...