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On the heels of a $1.2 billion deal to buy U.K.-based
Codemasters (announced in late 2020),
Electronic Arts (NASDAQ:EA) is scooping up one of the leading mobile game developers in the world.
Here are five charts that illustrate why Electronic Arts is spending $2.1 billion to buy
1. Accelerating mobile growth
Over the last decade, EA used acquisitions to build a diversified mobile portfolio, which currently makes up 13% of total bookings. It has dozens of mobile titles, including older hits like
Plants vs. Zombies alongside mobile versions of EA Sports titles such as
FIFA Mobile.
Image source: Getty Images.
American game developing giant Electronic Arts (EA) is acquiring mobile game maker Glu Mobile for $2.4 billion. Glu Mobile is also an American company,
2 months ago
Fourth quarter revenue up 25% year over year to $141.4 million; bookings grow 15% year over year to $124.8 million
Full year 2020 revenue up 31% to $540.5 million; bookings reach record $560.6 million, up 32% year over year
Fourth quarter record GAAP net income of $23.9 million; $20.4 million for the full year
Fourth quarter GAAP diluted earnings per share of $0.13; $0.12 for the full year
Fourth quarter free cash flow of $46.2 million; full year 2020 free cash flow of $69.0 million up 132% year over year
SAN FRANCISCO–(BUSINESS WIRE)–Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of mobile games, today announced financial results for its fourth quarter and full year ended December 31, 2020.
Electronic Arts today announced it has reached an agreement to acquire Glu Mobile for $2.1 billion in enterprise value.
The deal would see Glu shareholders receive $12.50 for each share of Glu stock, a 36% premium to the company s closing price last Friday. The equity value of the offering is $2.4 billion, but Glu holds $364 million in net cash. Our acquisition of Glu combines amazing teams and deeply-engaging products to create a mobile games leader with proven expertise across many fast-growing genres, said EA CEO Andrew Wilson. 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. With a deep IP portfolio and an expanding global audience, we ll deliver more exciting experiences for our players and drive further growth for Electronic Arts.