{"id":106708,"date":"2021-02-11T00:50:32","date_gmt":"2021-02-11T00:50:32","guid":{"rendered":"https:\/\/fin2me.com\/?p=106708"},"modified":"2021-02-11T00:50:32","modified_gmt":"2021-02-11T00:50:32","slug":"ea-to-buy-glu-mobile-for-2-4-billion","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/ea-to-buy-glu-mobile-for-2-4-billion\/","title":{"rendered":"EA to buy Glu Mobile for $2.4 billion"},"content":{"rendered":"<figcaption>FILE PHOTO: The Electronic Arts Inc., logo is displayed on a screen during a PlayStation 4 Pro launch event in New York City, U.S., September 7, 2016.  REUTERS\/Brendan McDermid<\/figcaption><p>(Reuters) &#8211; Electronic Arts Inc said on Monday it would buy Glu Mobile Inc for $2.4 billion, bolstering its mobile platform with the addition of games such as \u201cDesign Home\u201d, \u201cCovet Fashion\u201d, and \u201cMLB Tap Sports Baseball\u201d.<\/p>\n<p>EA has offered $12.50 in cash for each Glu share, a premium of about 33% to its closing price on Monday. Shares of EA were up 1.4% in extended trading, while those of Glu were halted.<\/p>\n<p>The deal, which is expected to close in the quarter ending June 30, has a total enterprise value of $2.1 billion, including Glu\u2019s net cash of $364 million.<\/p>\n<p>Videogame sales in the United States hit a record $56.9 billion last year, according to research firm NPD, as demand for virtual entertainment soared after major public events were canceled to stem the spread of the novel coronavirus.<\/p>\n<p>Earlier this month, EA raised its annual sales outlook, betting on strong sales of its sports titles including \u201cFIFA 21\u201d and \u201cMadden NFL 21\u201d.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-glu-mobile-m-a-electronic-arts\/ea-to-buy-glu-mobile-for-2-4-billion-idUSKBN2A82FT\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FILE PHOTO: The Electronic Arts Inc., logo is displayed on a screen during a PlayStation 4 Pro launch event in New York City, U.S., September [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":106707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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