Video game maker Activision Blizzard Inc said it will purchase "Candy Crush Saga" creator King Digital Entertainment for $5.9 billion to strengthen its mobile games portfolio.ABS Partners CV, a unit of Activision Blizzard, will acquire King shares for $18 each in cash, representing a premium of 16 percent to King's closing price on Monday.The addition of King's mobile games will position Activision as a global leader in interactive entertainment across mobile, console and PC platforms, Activision said in a statement. Video game publishers are shifting to the lucrative digital business from physical sales of games as consumers shift from consoles to playing on smartphones and tablets.
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 0.55% or $-0.19/share to $34.57. 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 7385270.