Video game company Electronic Arts said it is acquiring Glu Mobile for $12.50 a share in cash, or $2.4 billion. The deal is expected to expand the company’s mobile-games business.
If the deal is completed, the combined companies will have a portfolio including more than 15 live services with a combined $1.32 billion in bookings over the past 12 months, EA said.
The combined organization will “build on EA’s network of 430 million players, including more than 100 million monthly active players in mobile,” EA said.
Glu is known for its Covet Fashion, Deer Hunter, MLB Tap Sports Baseball, and Kim Kardashian: Hollywood games.
The deal is expected to close in the second quarter, conditional on regulatory clearances and a vote of Glu holders.
"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," Andrew Wilson, chief executive of Electronic Arts, said in a statement.