Activision Buys Candy Crush For $5.9 Billion
What is this?
Activision, the video game publisher known for its brainchild Call of Duty purchases Candy Crush developer King for $5.9 billion. The deal is reportedly all cash.
It still has to go through approval in Ireland, where King is based, but it is expected to be all sorted out by spring of 2016.
Why is this important?
Candy Crush is one of the most lucrative and successful games in the mobile industry earning some $1.33 billion in revenues in 2014 according to a King financial statement.
Activision CEO Bobby Kotick 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.