Activision, the behemoth games publisher responsible for franchises such as Call of Duty and Destiny,has announced that they have purchased Candy Crush developer King for the handsome sum of $5.9 billion.
The deal is scheduled to be finalized by Spring 2016. Activision has made some major acquisitions in the past, having merged with Blizzard Entertainment in 2007 to the tune of an estimated $18.9 billion. While this new deal with King doesn’t quite register on the same scale, it’s still a huge power play by the publisher that is sure to make some waves in the games industry. Candy Crush is a hugely profitable game, earning $1.33 billion in 2014 alone. King also has other profitable mobile titles such as Bubble Witch and Farm Heroes, giving Activision some pretty significant leverage in the increasingly important mobile market.
The press release is as follows:
Activision Blizzard believes that the addition of King’s highly-complementary business will position Activision Blizzard as a global leader in interactive entertainment across mobile, console and PC platforms, and positions the company for future growth. The combined company will have a world-class interactive entertainment portfolio of top-performing franchises, including two of the top five highest-grossing mobile games in the U.S. (Candy Crush Saga®, Candy Crush Soda Saga™), the world’s most successful console game franchise (Call of Duty®), and the world’s most successful personal computing franchise (World of Warcraft®), as well as such well known franchises as Blizzard Entertainment’s Hearthstone®: Heroes of Warcraft™,StarCraft®, and Diablo® and Activision Publishing’s Guitar Hero®,Skylanders® and Destiny, along with over 1,000 game titles in its library.
That’s a ridiculous portfolio of franchises and with the addition of King and their properties, we can only expect the world’s biggest game publisher to get even bigger.