Electronic Arts Buys Glu for $2.1 Billion to Tap Into Growing Mobile Gaming Market
Home » Smart home » Gadgets » Electronic Arts Buys Glu for $2.1 Billion to Tap Into Growing Mobile Gaming Market

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

posted in: Gadgets 2

US video game powerhouse Electronic Arts on Monday announced a $2.1 billion (roughly Rs. 15,300 crores) deal to by smartphone-focused game studio Glu Mobile.

The acquisition came with Glu’s library of titles including MLB Tap Sports Baseball and was described as part of a move by EA to significantly beef up its offerings on smartphones or table computers.

“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,” said EA chief executive Andrew Wilson.

EA expected Glu to enable it to build on popular video game franchises with mobile offerings. Glu’s line-up of games includes Design Home and Covet Fashion.

“”As part of Electronic Arts, we will continue capitalizing on the opportunities ahead in the expanding mobile gaming industry,” said Glu chief executive Nick Earl.

The Glu team includes more than 500 mobile game developers, according to the companies.

The acquisition was expected to close by the end of June, pending approval of regulators and Glu shareholders.

EA last week reported higher quarterly sales on strength in its FIFA brand and other franchises but profits that were lower.

EA cited FIFA Ultimate Team, as well as Apex Legends Battle Royale as especially hot titles.

Last week, EA reported revenues for the quarter ending December 31 rose 5.0 percent to $1.7 billion (roughly Rs. 12,400 crores).

But profits fell 39 percent to $211 million (roughly Rs. 1,540 crores) as the company spent more on research and development, marketing and administrative costs.

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


Source link

2 Responses

  1. Dogecoin: What Is It, the Musk Connection, and Everything Else You Need to Know - godsownmedia
    | Reply

    […] push made by Musk brought Dogecoin’s market value to $10 billion (approximately Rs. 72,901 crores) earlier on Monday, according to CoinMarketCap […]

  2. PS5 vs Xbox Series X: Which Is the Best Gaming Console for India? -
    | Reply

    […] also talk about upcoming titles that you can expect on both consoles, and whether it makes sense to buy either console right now based on game library. Here we also have an in-depth segment on backwards compatibility and how many of your old […]

Leave a Reply