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.
EA's Aroon Indicator triggered a bullish signal on July 26, 2024. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 279 similar instances where the Aroon Indicator showed a similar pattern. In of the 279 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a publisher of game software content and services
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