Electronic Arts to Acquire Glu Mobile

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Electronic Arts this week announced that it has entered into a definitive agreement to acquire Glu Mobile, publisher and developer of mobile video games like Design Home, Covet Fashion, and, perhaps most notably, Kim Kardashian: Hollywood, among others. Under the specifics of the deal, EA will acquire Glu Mobile for $2.1 billion in enterprise value and those that hold stock in Glu will get $12.50 in cash for each share.

To be clear: this is just the announcement of the agreement and it is not yet closed. According to EA, the company expects the transaction to close in the quarter ending June 30th. As of now, it remains subject to approval by regulators and Glu's stockholders. Historically, this kind of acquisition is rarely problematic after both sides have agreed, and it's far from the first time EA has acquired a mobile or social video game company.


"Our acquisition of Glu combines amazing teams and deeply-engaging products to create a mobile games leader with proven expertise across many fast-growing genres," said Andrew Wilson, CEO of Electronic Arts, as part of the acquisition announcement. "Mobile continues to grow as the biggest gaming platform in the world, and with the addition of Glu’s games and talent, we’re doubling the size of our mobile business. With a deep IP portfolio and an expanding global audience, we’ll deliver more exciting experiences for our players and drive further growth for Electronic Arts."

"This transaction is the culmination of the tremendous work of the Glu team to deliver world-class interactive experiences for our players, while driving business momentum that has led to strong financial and operational results. It represents a terrific outcome for all of our stockholders and other key constituents," said Nick Earl, CEO of Glu, as part of the same announcement. "As part of Electronic Arts, we will continue capitalizing on the opportunities ahead in the expanding mobile gaming industry."


As noted above, EA expects the acquisition of Glu Mobile to close in the quarter ending on June 30th.

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Source: https://comicbook.com/gaming/news/electronic-arts-glu-mobile-acquisition/

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"Electronic Arts to Acquire Glu Mobile" :: Login/Create an Account :: 2 comments

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RedactedPosted:

Ea going in with all the studios they're buying

AnimePosted:

Never heard of Glu Mobile until reading this now. But Mobile gaming still does pretty well.