Activision Blizzard has confirmed it will be buying King Digital Entertainment for $5.9 billion, provided King shareholders, antitrust organisations, and the Irish High Court give permission for the deal to go ahead. King is best known for the Candy Crush Saga, though it has a catalogue of free to play match three style games behind it that rake in the cash. King claims that these games have a total of around 340 million unique players per month, which is a huge market for a company like Activision Blizzard to tap into.
Bobby Kotick, Activision Blizzard’s CEO said:
“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.”
Activision will be paying $18 per share, which is above the current market rate where the price is fluctuating around the $15 mark. The price is a far cry away from King’s market price peak which was $21.87 back in July 2014.