Last night, Activision Blizzard announced it was buying King, the maker of Candy Crush, for $US5.9 billion in cash, a 20% premium over King’s share price at close yesterday.
Why? As this chart from Statista shows, 79% of Activision’s revenue today comes from selling PC, online, and console games. King, on the other hand, makes 80% of its revenue from mobile games. The combined company will be much more diverse — and that’s important as mobile gaming grows at the expense of console gaming in particular.
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