The deal is expected to be completed by spring 2016. He told Reuters that Activision appealed to him because of the company’s expertise in building long lasting franchises. King will continue to operate independently, led by chief executive Riccardo Zacconi. It made its entry into the licensing space back in 2013, through a deal with Happy Socks, and since then has launched a range of sweets with Spun Candy and will make its publishing debut with Little Brown books. Its stable already includes the World of Warcraft and Call of Duty franchises. Candy Crush, a series of mobile games in which players match colorful sweets, is a significant part of Activision’s business. Meanwhile, King will be able to benefit from the video games company’s expertise in building brands. The $5.9 billion deal will significantly strengthen Activision Blizzard’s position in the mobile games space. King fell over 20 to just over 14 a share. There was only one day that the stock closed above its IPO price and that was in early July. The maker of Candy Crush Saga – King Digital Entertainment – has been acquired by video games company Activision Blizzard. Investors have soured on the Candy Crush maker since then.
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