EA buys Glu Mobile

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EA buys Glu Mobile

Electronic Arts is buying Glu Mobile in a deal worth $2.1 billion.

Glu Mobile is a a leading developer and publisher of mobile games including Design HomeCovet Fashion, and MLB Tap Sports Baseball. EA says that the combination with Glu “will be a mobile growth engine.”

Glu stockholders will receive $12.50 in cash for each share of Glu stock, representing a 36% premium to Glu’s closing share price on February 5, 2021. Upon closing, the acquisition is “expected to grow underlying profitability beginning in its first year.”

EA says that it currently has over 100 million active monthly players on mobile devices. Glu Mobile – which is headquartered in San Francisco – has more than 500 mobile game developers and nearly 800 total employees.

“Mobile is the biggest platform in gaming today, and we’re committed to growth,” EA CEO Andrew Wilson said in an interview. “We have great confidence in our existing live services and new mobile games in development.”

“When you think about key genres like sports and lifestyle, and our ability to bring games to international audiences, we know there are exciting opportunities ahead in mobile, and we want to be in a position to lead,” Wilson adds.

This is the latest major acquisition for the company. Late last year, EA bought racing game publisher Codemasters for $1.2 billion.

Watch CNBC’s interview with EA’s CEO below!