Activision’s president and CEO of publishing Mike Griffith has stated that the global economic crisis, and more importantly resulting deflated company values, could pave the way for his firm making further acquisitions.

Griffith told Bloomberg: “The combination of Activision holding a fair amount of cash and presumably prices being depressed, not only for publicly traded companies, but also likely for new intellectual property licensing rights, should certainly create opportunities.

“However, we won’t rush to judgment just because we have cash. We will be very disciplined.”

He added that Activision Blizzard, already the world’s largest games publisher, is looking to “fill holes in its product line and expand internationally”.

The publisher’s release slate for 2009 currently includes a new racing title from Project Gotham developer, and recently acquired, Bizarre Creations, Raven’s FPS Singularity, Infinity Ward’s Call of Duty: Modern Warfare 2 and Guitar Hero spin-off DJ Hero.