Let’s dive into the details investors need to know about the deal below!
- The Playdemic acquisition is costing Electronic Arts $1.4 billion in cash.
- It has the company bumping up its mobile live services to beyond 18.
- This comes as EA continues to look for more ways to grow its influence in the mobile gaming market.
- Playdemic’s part in that comes from its sole game, Golf Clash, which has more than 80 million downloads.
- EA mentions that its collection of sports IPs and Playdemic open the way for “exciting growth opportunities.”
- It’s worth pointing out that EA has been on a buying spree lately when it comes to mobile developers.
- Over the course of the last year, it’s added Codemasters, Glu Mobile, and Metalhead Software to its list of developers.
Andrew Wilson, CEO of Electronic Arts, said the following about the Playdemic deal.
“The addition of the incredible Playdemic team not only adds to the strength of our mobile teams globally, it also continues our expansion and investment in U.K.-based talent. With Playdemic now part of Electronic Arts, we’re excited to bring even more amazing and innovative mobile games to diverse audiences around the world.”
News of the deal wasn’t doing much for EA stock movement today. The company’s seen less than 2 million shares move as of this writing. That’s still below its daily average trading volume of about 2.3 million shares.
EA stock was down 2.7% as of Monday afternoon.
Investors looking for more hot stock news today are in luck!
We’ve got all the stock market news that traders need to know about for Monday. That includes why the stock market is down today, what’s behind Nio (NYSE:NIO) falling, as well as the news sending Verastem (NASDAQ:VSTM) soaring. You can get all those details at the links below!
More Monday Stock Market News
- TSLA, NVDA, AAPL, NIO: Why Is the Stock Market Down Today?
- NIO Stock: 2 Big Reasons Nio Is Struggling Today
- Penny Biotech Stocks: 8 Things for Verastem Investors to Know as VSTM Stock Shoots Higher
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.