Activision Blizzard Inc, a leading player in the mobile game publishing giant, is buying King Digital Entertainment Plc, a mobile publisher, for $5.98 billion. After beating the market expectations for third quarter results, Activision has announced its decision of acquiring King. Activision is keen on expanding the mobile gaming activity as the acquisition will create biggest games powerhouse in the world. It's estimated that after the acquisition, it will be next to the market leader Tencent in the global market. The company's stock rose to its all-time high as investors responded positively to the acquisition news.
Deals
China’s Anbang insurance to acquire US insurer Fidelity & Guaranty Life in a $1.6 B deal
Anbang Insurance Group Co. Ltd., a China-based leading global insurance group, has agreed to buy U.S. annuities and life insurance provider Fidelity & Guaranty Life (FGL) for about $1.57 billion in cash.
Investcorp buys hedge fund of SSARIS
Bahrain-based Investcorp Bank BSC has acquired hedge fund business from SSARIS Advisors LLC. The acquisition of hedge fund from the fund business of the US company will enhance product range of Bahrain's bank as the business is expected to add $800 million in discretionary and advisory assets to Investcorp Bank.
Boeing, Tata team up to make Apache fuselages in India
Boeing Co and Tata Advanced Systems (TASL) will float a joint venture (JV) for manufacturing fuselages for the AH-64 Apache attack helicopter in India. The JV will set up a center of excellence (CoE) and it'll also be in competition for getting contracts to make additional Boeing platforms including commercial and defense.
Google Acquires Photo Video app maker Fly Labs
Google acquired New York City-based Fly Labs, the photo and video editing software company responsible for apps like Flt, Tempo, Crop, and Clips in the iOS App Store. Google seeks to provide better video and photo editing features for its users through the acquisition of the small app maker company, according to Information Week.
Latest News
The US activist investor Daniel Loeb has bought a stake in a Japanese retailer Seven & I Holdings. Though the details about stake and valuation are not revealed, Loeb-run hedge fund Third Point is believed to have acquired stake below five percent. After the sale, the Japanese retailer is expected to take up restructuring exercise enhance profitability, reducing underperforming merchandise stores. Seven & I Holdings operates over 18,000 outlets under the brand 7-Eleven across Japan. Seven & I has decided to shut about 40 unprofitable Ito Yodado stores in the next five years.
The first share sale made by an Indian airline in six years has gone on to receive bids that were 6 times more than the $460 million target set by the company. The company that held an IPO was InterGlobe Aviation Ltd., an air transportation services company with headquarters in Gurgaon, India.
Fiat Chrysler Automobiles (FCA), the Italian-US automobile company being the parent company of Ferrari, floated to the public 17.18 million shares accounting for nearly 10% of Ferrari at $52 a share at its IPO at the NYSE.
Singapore-based Biosensors International Group announces that the company has received an offer for an acquisition from a Chinese private equity fund, Citic Private Equity Funds Management Co., for an undisclosed amount.
Walgreens Boots Alliance Inc agreed to acquire Rite Aid Corp for $17.2 billion in cash to further expand the company's role in the distribution of medications in the U.S.
Japanese engineering conglomerate Toshiba announced on Wednesday that it will sell its image sensor business to Sony for a reported 20 billion yen, as it plans to overhaul its semiconductor business, which is still recovering from a $1.3 billion scandal.
Giant US power company Duke Energy said Monday that it would buy for $4.9 billion in cash natural gas distributor Piedmont Natural Gas, which is its partner in the $5 billion worth Atlantic Coast Pipeline venture.
Dutch electronics and healthcare company Philips announced that its proposed sale of Lumileds to Go Scale Capital had run into unexpected opposition from US government.
East Asia's communist country, China is deeming to have merger operation with the nation's largest three major carriers. The said merger talks spark after China revealed its state-owned enterprises reformation plans. Rumors also emerged that the two of the largest airline in China is on merger to create a large fleet on the records.
