The Acquisition is subject to approval by King’s shareholders and the Irish High Court.
By Sreejith Vallikunnu
US-based gaming company Activision Blizzard is buying King Digital Entertainment, the creator of trending game Candy Crush Saga. The deal is worth a total equity value of $5.9 billion, a statement said.
The boards of directors of both Activision Blizzard and King unanimously approved the acquisition, which is being implemented by means of a scheme of arrangement under Irish law.
The Acquisition is subject to approval by King’s shareholders and the Irish High Court, clearances by the relevant antitrust authorities and other customary closing conditions, and it is currently expected that the acquisition will be completed by spring 2016.
Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, “The combined revenues and profits solidify our position as the largest, most profitable standalone company in interactive entertainment. With a combined global network of more than half a billion monthly active users, our potential to reach audiences around the world on the device of their choosing enables us to deliver great games to even bigger audiences than ever before.”
Riccardo Zacconi, Chief Executive Officer of King, said, “We will combine our expertise in mobile and free-to-play with Activision Blizzard’s world-class brands and proven track record of building and sustaining the most successful franchises, to bring the best games in the world to millions of players worldwide.”
“Since 2003, we have built one of the largest player networks on mobile and Facebook, with 474 million monthly active users in the third quarter 2015, and our talented team has created some of the most successful mobile game franchises. We believe that the Acquisition will position us very well for the next phase of our company’s evolution and will bring clear benefits to our players and employees,” he added.