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Candy Crush of Duty: Activision buys King for $5.9 BILLION
cloudeagle
Registered User regular
Registered User regular
So, we've all either rolled our eyes at or pointed and laughed at King. You know, the Candy Crush guys. The guys who made the games synonymous with obnoxious energy systems and microtransactions, yet are inexplicably popular. The company grew to gigantic proportions, but after its initial stock offering it started slumping almost immediately, as the company couldn't come up with anything popular that didn't have the word "Candy" in it. So smart money was on King continuing to go "thbbbbbbbbbbbtttt" like a slowly deflating balloon.
Until today. Activision just offered to by the company for $5.9 billion. Which is a new move for Activision -- they do mobile games, but they're mostly based on their console games or the games they've done in the past. They don't really do the casual kind of stuff King is known for, and this could fill a niche.
But $5.9 billion for one (admittedly still very popular) brand and some developers? That's a big, odd move.
Until today. Activision just offered to by the company for $5.9 billion. Which is a new move for Activision -- they do mobile games, but they're mostly based on their console games or the games they've done in the past. They don't really do the casual kind of stuff King is known for, and this could fill a niche.
But $5.9 billion for one (admittedly still very popular) brand and some developers? That's a big, odd move.
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That's weird.
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It's not. Not in any long term sense at least. In ten years Activision will have ruined the brand like pretty much everything else it touches and they'll have lost money on it
See, you say that, and while I'm not a fan of Activision or the way they conduct themselves, they didn't just magic that $5.9bn out of their arses. They must be doing something right to have that amount of money to spend.
I think King's management made out like bandits here.
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The biggest takeaway is that King went public last March for $22.50 per share. It sold a year and a half later for $18 per share.