93 days ago • Posted by William Ramstein

EA set to buy Glu Mobile for $2.4B

Electronic Arts Inc. said Monday it is acquiring Glu Mobile Inc. in a $2.4 billion deal aimed at expanding an area of business in which the videogame giant has had mixed success. The all-cash deal, which is expected to close in the June-ended quarter, will bring Glu’s mobile games such as “Kim Kardashian: Hollywood,” “Diner Dash” and “MLB Tap Sports Baseball” to EA. Glu shareholders will receive $12.50 a share, representing a 36% premium to Glu’s closing price Friday, EA said. Glu shares rose 34% to $12.56 in extended trading Monday. - WSJ

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