Game developer Electronic Arts agreed to acquire mobile game maker Glu Mobile for $2.4 billion, as it looks to capture opportunities in the growing sector.
Electronic Arts CEO Andrew Wilson expressed belief the deal will turn it into a leader in the mobile gaming segment, bringing together “proven expertise across many fast-growing genres”.
He explained the tie-up will double its mobile business at a moment when the segment is recording the fastest growth rate in the overall industry globally.
Following the takeover, Electronic Arts’ portfolio will consist of more than 15 live offerings spanning popular genres, including sports, casual and lifestyle gaming, and will add more than 100 million mobile players to its current base of 430-million.
The transaction is expected to close in Q2 and bring profitable growth within a year of completion.
Some of the titles developed by Glu Mobile include role-playing game Disney Sorcerer’s Arena, cooking game Dine Dash Adventures and casual game Kim Kardashian Hollywood.Subscribe to our daily newsletter Back