Smiling Jack Tretton
Jack Tretton smiling about the PS4.
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PowerUp Acquisition raises $250M for gaming SPAC with Jack Tretton and Bruce Hack

  • Posted byby Dean Takahashi
  • Updated
  • 4 min

Are gaming SPACs back? After a lull because of a choppy stock market, PowerUp Acquisition announced last week it was raising $250 million in an initial public offering for its special purpose acquisition company (SPAC).

A SPAC is a blank check company that raises money first and then acquires a business, taking it public in a process that circumvents the longer time it takes to do an IPO.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.