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.
France-based multinational mass media and telecommunication firm Vivendi took a pause from big acquisitions to decide on how to spend the remaining USD14 billion from asset sales after cutting debt.
Activision regains independence after it bought back shares from Vivendi SA.
The proposed share buyback of Activision Blizzard Inc. of its Vivendi SA's shares was blocked by a judge in Delaware Chancery Court in Wilmington.