King Digital is the company behind the mobile-gaming-phenomenon, Candy Crush Saga, as well as other popular titles such as Bubble Witch, and AlphaBetty Saga.Īccording to Activision, the deal which is reported to be worth $5.9 billion, or $18 per King Digital Entertainment share, will catapult the company out of its comfort zone by making it a “global leader” in entertainment. If that name sounds familiar to you, it should. The company plans to list the stock on the New York Stock Exchange under the “KING” ticker symbol.Activision Blizzard, the United States-based video games developer responsible for producing titles such as World of Warcraft and various Call of Duty titles, has stunned the mobile gaming world by announcing its acquisition of King Digital Entertainment. In the prior year, the company reported a profit of only $7.8 million and revenue of $11.1 million, less expenses. Its revenue, minus expenses, was $716 million.
In 2013, King reported a profit of $567.6 million. It won’t receive any proceeds from shares offered by the selling stockholders. The Dublin company plans to use proceeds from the sale for working capital and other general corporate purposes, which may include acquisitions. King said in its filing that the IPO will include shares offered by the company as well as those offered by existing stockholders. There were 93 million users playing the game daily in December, according to the regulatory filing Tuesday. 1 maker of games played on Facebook, largely due to the success of “Candy Crush Saga.” The game was the most downloaded free app on both iPhones and iPads in 2013, beating Facebook, Google Maps and YouTube. King has replaced Zynga Inc., which makes including “FarmVille” and “Mafia Wars,” as the No. King Digital Entertainment PLC, which also makes the game “Pet Rescue Saga,” did not disclose how many shares are expected to be in the IPO or the projected price range. The Irish maker of the blockbuster mobile game “Candy Crush Saga” will attempt to raise as much as $500 million in an initial public offering.
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