Activision Blizzard Buys King for $5.9 Billion

Back in November 2015, Activision Blizzard has made its intentions of purchasing King Digital Entertainment quite clear, and it looks like the acquisition has finally taken place not too long ago. Just in case you’re not aware, King is responsible for the creation of the renowned Candy Crush games and other similar match-three puzzle video games. The acquisition was completed for the staggering sum of $5.9 billion, which means that Activision Blizzard paid $18 in cash for each outstanding share of King. According to Bobby Kotick, Chief Executive Officer at Activision Blizzard, the company has reached over 500 million users worldwide, which means that it has officially become the world’s largest gaming network.

Looking at the facts, Activision Blizzard is indeed the owner of the world’s most successful console game franchise and of two of the top five grossing mobile games in the US, not to mention the fact that it includes the most successful PC game franchise in the world. The CEO of King Entertainment, Riccardo Zacconi, has stated that his team is looking forward to working with Activision Blizzard and that they are really excited about future projects. Fortunately, it appears that King’s leadership will remain intact, with Zacconi keeping his CEO position while Sebastian Knutsson and Stephane Kurgan will retain their positions as Chief Creative Officer and Chief Operating Officer respectively.