Video game maker Activision Blizzard has announced plans to acquire Candy Crush Saga and the rest fo the King Digital Entertainment app eco-system for $5.9 billion.
Activision will pay $18 for each outstanding King (KING) share — a 20% premium over the stock price on October 30. King shares are down from a high of $22.50 during its 2014 IPO.
“Mobile gaming is the largest and fastest-growing opportunity for interactive entertainment and we will have one of the world’s most successful mobile game companies,” said Activision CEO Bobby Kotick.
Activision is the developer of Guitar Hero, Call of Duty, and other popular PC and console games.
UK-based King was the third-ranked mobile game publisher worldwide on iOS and Google Play in September, according to app analytics site App Annie.
“Candy Crush Saga” and “Candy Crush Soda Saga” are the company’s two most popular games, a fact that has worried many analysts.