Electronic Arts acquires Glu Mobile for $ 2.1 billion

Electronic Arts confirms $ 2.1 billion acquisition of Glu Mobile Inc., a developer and publisher of mobile games. As a result of this acquisition, Glu (NASDAQ: GLUU) shareholders will receive $ 12.50 in cash per share, representing a 36% premium to the closing price of Glu shares on February 5, 2021. Immediately after the closure (expected to be June 2021), the acquisition will be formalized with EA.

Glu Mobile, founded in 2001, is a mobile game developer known for its wide variety of genres. The company's most notable developments are Kim Kardashian: Hollywood, Design Home, Covet Fashion, and MLB Tap Sports Baseball. The company employs a team of more than 500 mobile game developers.

EA has been looking towards the mobile gaming space for a while now. In 2011, the company acquired Firemint, creators of Flight Control and Real Racing, and Chillingo, publishers of Angry Birds.

This may be due to EA's announcement of the acquisition of UK-based racing game developer and publisher Codemasters, with the acquisition expected to be completed in the first quarter of 2021. Codemasters is best known for developing games such as Project Cars and DIRT.