Stock Investing
Electronic Arts (EA) acquires GluMobile to expand their mobile business
Electronic Arts Inc stated on Monday that it would purchase Glu Mobile Inc for $2.4 billion, in addition to adding games such as “Design Home”, “Covet Fashion”, and “MLB Tap Sports Baseball”. The U.S. video game developer has offered $12.50 per share in cash as part of the deal, which represents a premium of about 33% over the closing price of Glu’s stock on Monday. Electronic Arts (EA) stock surged an average of 1.4% in extended trading, while Glu shares soared an average of 34%. The deal would give Glu an enterprise value of $2.1 billion and will get completed
