Activision Blizzard, through its wholly-owned ABS Partners C.V. subsidiary, has agreed to acquire all outstanding shares of King – the creator of Candy Crush – for $18.00 in cash per share, for a total equity value of $5.9 billion.
The Acquisition is subject to approval by King’s shareholders and the Irish High Court, clearances by the relevant antitrust authorities and other customary closing conditions, and it is currently expected that the Acquisition will be completed by spring 2016.
Activision believes King’s business will position the publisher as a “global leader in interactive entertainment across mobile, console and PC platforms”.
The publisher states that “combining one of the largest mobile gaming communities with Activision Blizzard’s leading franchises creates potential opportunities to grow and cross-promote content to a diverse audience, while providing players more opportunities to engage with its content”.
Bobby Kotick, chief executive officer of Activision Blizzard, said: “The combined revenues and profits solidify our position as the largest, most profitable standalone company in interactive entertainment. With a combined global network of more than half a billion monthly active users, our potential to reach audiences around the world on the device of their choosing enables us to deliver great games to even bigger audiences than ever before.”
He added: “Riccardo, Sebastian, and Stephane are some of the best minds in the business, and we have long-admired King for consistently creating incredibly fun, deeply engaging free-to-play games that capture the imaginations of players across ages and demographics. Activision Blizzard will provide King with experience, support and investment to continue to build on their tremendous legacy and reach new potential. We share an unwavering commitment to attracting and developing the best talent in the business, and we are excited about what we will be able to accomplish together.”
Source: Activision Blizzard Investor Relations
