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Tuesday, November 3, 2015

Activision Blizzard buys 'Candy Crush' maker for $5.9 billion in mobile push, (NASDAQ: ATVI)

Video game maker Activision Blizzard will purchase "Candy Crush Saga" creator King Digital Entertainment for $5.9 billion, as the heavyweight of console and PC-gaming makes a major push into the faster-growing mobile market.The deal is one of the biggest in the industry in recent years, more than twice the size of Microsoft Inc's $2.5 billion purchase of "Minecraft" maker Mojang last year, and the biggest-ever acquisition of a mobile gaming company.The failure of Dublin-based King to replicate the success of Candy Crush with follow-up titles such as "Farm Heroes" and "Pet Rescue" has led some investors to think it may be a one-hit wonder.But Activision, whose shares were down 0.5 percent at $34.43 in early trading, is betting that its experience in sustaining long-running blockbuster franchises like "Call of Duty" and "World of Warcraft" can help it develop new hit series.

Activision Blizzard, Inc. is a developer and publisher of online, personal computer (PC), video game console, handheld, mobile and tablet games. Shares of ATVI fell by 0.84% or $-0.29/share to $34.28. In the past year, the shares have traded as low as $18.43 and as high as $35.44. On average, 10138000 shares of ATVI exchange hands on a given day and today's volume is recorded at 9314685.