Electronic Arts (EA) has announced that it will buy Glu Mobile for $ 2.4 billion, making a deal to support its mobile platform with the addition of games such as “Design Home”, “Covet Fashion” and “MLB Tap Sports Baseball”.
The deal stated that Glu’s total operating value, including $ 364 million in net cash, was $ 2.1 billion. Video game sales in the US reached $ 56.9 billion last year, according to research firm NPD.
EA offered $ 12.50 cash per share for Glu Mobile. This is 33 percent above Glu Mobile’s market price on Monday. The acquisition process is expected to be completed by 30 June.