Update: February 2, 2016
It has now been announced that Activision Blizzard have finalized their acquisition of King, now reaching “over 500 million users across almost every country, making us the largest game network in the world.” King’s executive group will be staying on to run the business as an independent division of Activision Blizzard. The original story is below.
Candy is yummy, and Activision Blizzard got a good, big taste of it just now. The massive gaming company has acquired King Digital Entertainment, maker of of the wildly popular game Candy Crush Saga, for a mere $5.9 billion.
With 474 million monthly active users in the third quarter of this year, King is no small player in the gaming industry, so Activision Blizzard probably has nothing to worry about. Still though, $5.9 billion is a lot of money. Just to give you a sense of how much money that really is; Disney bought Marvel for $4 billion back in 2009, and that’s Marvel!
Activision had the following to say about the acquisition:
“On November 2, 2015, Activision Blizzard, Inc. and King Digital Entertainment plc announced the signing of a definitive agreement under which ABS Partners C.V., a wholly owned subsidiary of Activision Blizzard, will acquire all of the outstanding shares of King for $18.00 in cash per share, for a total equity value of $5.9 billion.
Activision Blizzard believes that the addition of King’s highly-complementary business will position Activision Blizzard as a global leader in interactive entertainment across mobile, console and PC platforms, and positions the company for future growth. The combined company will have a world-class interactive entertainment portfolio of top-performing franchises.”
King has done great business over the past years, and we can all admit that their games are beyond addictive (just admit it, we won’t judge). The CEO of King, Riccardo Zacconi, claims to be very excited to enter into the new acquisition. Then again, he is now a multi-billionaire, so why would he not be excited?
Admittedly, the purchase of King by Activision Blizzard came as a surprise to us. What is especially surprising, is the amount of money that was paid! Let’s hope people want to continue crushing candy for a while so that the King ship doesn’t sink and take Activision with it.
Source: TechCrunchRelated: Acquisition, Activision, Blizzard Entertainment, Candy Crush, Industry, News