EA Acquires Glu Mobile for $2 Billion
You’ll be GLUed to your seats for this one
EA has recently entered an agreement to acquire Glu Mobile, as per a press release.
The acquisition will see EA own such IPs as Disney Sorcerer’s Arena, WWE Universe, and Design Home.
The deal will also see EA pay $2.1 billion in enterprise value. The acquisition will also see Glu stakeholders receive $12.50 per stock.
Of the acquisition, EA CEO Andrew Wilson had the following to say;
“[Our acquisition of Glu] combines amazing teams and deeply-engaging products to create a mobile games leader with proven expertise across many fast-growing genres. Mobile continues to grow as the biggest gaming platform in the world, [and] with the addition of Glu’s games and talent, we’re doubling the size of our mobile business. With a deep IP portfolio and an expanding global audience, we’ll deliver more exciting experiences [for our players] and drive further growth for Electronic Arts”.
A small sample of Glu’s various IPs, which helped Glu earn over $1.3 billion since January 2020
Nick Earl, CEO of Glu Mobile, added;
“This transaction is the culmination of the tremendous work of the Glu team to deliver world-class interactive experiences for our players while driving business momentum that has led to strong financial and operational results. It represents a terrific outcome for all of our stockholders and other key constituents. As part of Electronic Arts, we will continue capitalising on the opportunities ahead in the expanding mobile gaming industry”.
