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Activision Blizzard buys Candy Crush maker for $5.9b

posted Nov 2, 2015, 11:53 PM by Barny CK
Gaming giant Activision Blizzard has agreed to buy King Digital Entertainment for $5.9 billion. The deal will allow the video game maker better access to the mobile gaming industry. King, famed for its Candy Crush mobile app game, will continue under CEO Riccardo Zacconi as an independent unit of Activision. Activision Blizzard, the parent company for Activision and Blizzard Entertainment, is famous for games like the Warcraft, Starcraft and Diablo series. Their online network game, World of Warcraft, is currently the world's most-subscribed MMORPG. Activision will use $3.6 billion of offshore cash for the purchase, with the remaining $2.3 billion to be borrowed on an incremental term loan from Bank of America Merrill Lynch and Goldman Sachs Bank. Activision will pay $18 a share in cash. Currently, King Digital's share trades at $15.54. Recently, King Digital has been struggling to repeat its past successes as it failed to create a successor to the aging Candy Crush series.
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