Activision Blizzard completes $5.9 billion acquisition of Candy Crush developer King

Shawn Knight

TechSpot Staff
Staff member

Activision Blizzard announced intentions to purchase Candy Crush maker King Digital Entertainment back in November for a staggering $5.9 billion. On Tuesday, the two sides officially completed the acquisition.

Bobby Kotick, Chief Executive Officer at Activision Blizzard, said in a press release that they now reach over 500 million users across almost every country, making them the largest game network in the world. Kotick added that they see great opportunities to create new ways for audiences to experience their favorite franchises across mobile devices, consoles and on the PC.

True enough, Activision Blizzard's portfolio now includes two of the top five grossing mobile games in the US, the world's most successful console game franchise and the world's most successful PC game franchise.

King Entertainment CEO Riccardo Zacconi said this team is thrilled to now be a part of Activision Blizzard and can't wait to start working together. The executive thanked everyone at King for their hard work since the company was founded 13 years ago and said they're excited about what the future holds.

Activision Blizzard, best known for its Call of Duty, Diablo, Starcraft and World of Warcraft franchises, paid $18 in cash for each outstanding share of King. The figure represents a 26 percent premium on the company's market capitalization of $4.7 billion which no doubt put smiles on the faces of investors.

Looking ahead, King will operate as an independent unit of Activision Blizzard. The company will continue to be led by the aforementioned Zacconi, Chief Creative Officer Sebastian Knutsson and Chief Operating Officer Stephane Kurgan, we're told.

Activision Blizzard's stock is down just over two percent on the day.

Image courtesy Joe Raedle, Getty Images

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EClyde

TS Evangelist
Longest played game by me that I haven't finished. Candy Crush. The rest of Kings games don't interest me
 
D

davislane1

Corporate board room, 1972

Suit A: This proposal... how did it get past your secretary? "Gamers" aren't even a market.

Suit B: Intern.

Suit A, shaking his head: These schools will admit anyone these days.

Corporate board room, 2016

Suit A: King... That's the Candy Crush developer, correct?

Suit B:
Yes. What's our offer?

Suit A:
$5.9.

Suit B:
Million?

Suit A:
Hah! Good one!

Suit B:
I'd like to take credit, but, truth be told, that's one of Ted's lines. I'll make the call.
 

Darth Shiv

TS Evangelist
$5.9B I'd be thrilled if I was CEO. Intrigued where Activision Blizzard will go from here. It's an awful lot of money to not have a very good plan.
 

amstech

IT Overlord
World Of Clash: The Queens Betrayal
Ohh wait they bought out Candy Crush, not Clash of Clans, damnit.
 

treetops

TS Evangelist
This game has installed itself on my phone around 5 times when it first came out. I think act is going to be pretty disappointed by its fluffed user stats. Law suit incoming.
 

9Nails

TechSpot Paladin
I got in a race to beat all my Facebook friends for highest points in Candy Crush. Nerd points can be such a distraction when competition is involved. I eventually got stuck in one of the upper hundreds of levels and retired that game.