US video game producer Activision Blizzard Inc late on Monday announced that it was buying King Digital Entertainment PLC, best known for its Candy Crush Saga mobile game, for US$5.9 billion.
Activision Blizzard, which produces such games as Call of Duty, said in a statement the purchase “will create one of the largest global entertainment networks with over half a billion combined monthly active users in 196 countries.”
California-based Activision Blizzard has some of the best known video game titles on the market, including World of Warcraft, Diablo, Guitar Hero, Skylander and most recently Destiny.
Photo: AFP
Activision Blizzard said it believes the addition of King’s business, which it called highly complementary, will position it “as a global leader in interactive entertainment across mobile, console and PC platforms.”
It added that the move “positions the company for future growth.”
Since 2003 King Digital has “built one of the largest player networks on mobile and Facebook, with 474 million monthly active users in the third quarter [of this year],” King Digital chief executive officer Riccardo Zacconi said in a joint statement.
The Call of Duty series is one of the best-selling console games in the world, while the addictive Candy Crush is among the most popular games on mobile devices.
The purchase, approved by the boards of directors of both companies, has King’s shareholders receiving US$18.00 in cash per share “comprising a total equity value of US$5.9 billion and an enterprise value of US$5.0 billion,” according to the statement.
That represents a 20 percent premium over King’s closing price on Friday, it added. The transaction should be completed by the second quarter of next year, assuming approval from regulators.
“The combined revenues and profits solidify our position as the largest, most profitable standalone company in interactive entertainment,” Activision Blizzard chief executive Bobby Kotick said. “With a combined global network of more than half a billion monthly active users, our potential to reach audiences around the world ... enables us to deliver great games to even bigger audiences than ever before.”
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