Electronic Arts Buys Glu for $2.1 Billion to Tap Into Growing Mobile Gaming Market

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US online game powerhouse Digital Arts on Monday introduced a $2.1 billion (roughly Rs. 15,300 crores) deal to by smartphone-focused recreation studio Glu Cell.

The acquisition got here with Glu’s library of titles together with MLB Faucet Sports activities Baseball and was described as a part of a transfer by EA to considerably beef up its choices on smartphones or desk computer systems.

“Cell continues to develop as the most important gaming platform on the planet, and with the addition of Glu’s video games and expertise, we’re doubling the scale of our cellular enterprise,” mentioned EA chief govt Andrew Wilson.

EA anticipated Glu to allow it to construct on widespread online game franchises with cellular choices. Glu’s line-up of video games contains Design Residence and Covet Style.

“As a part of Digital Arts, we’ll proceed capitalizing on the alternatives forward within the increasing cellular gaming business,” mentioned Glu chief govt Nick Earl.

The Glu group contains greater than 500 cellular recreation builders, in keeping with the businesses.

The acquisition was anticipated to shut by the tip of June, pending approval of regulators and Glu shareholders.

EA final week reported greater quarterly gross sales on energy in its FIFA model and different franchises however earnings that have been decrease.

EA cited FIFA Ultimate Team, in addition to Apex Legends Battle Royale as particularly scorching titles.

Final week, EA reported revenues for the quarter ending December 31 rose 5.zero % to $1.7 billion (roughly Rs. 12,400 crores).

However earnings fell 39 % to $211 million (roughly Rs. 1,540 crores) as the corporate spent extra on analysis and growth, advertising and administrative prices.

In December, EA introduced a $1.2 billion (roughly Rs. 8,750 crores) acquisition of Britain-based Codemasters, which is thought for its Formula 1 and DiRT racing video video games. 


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