Electronic Arts (NASDAQ: EA) is making a new push into the mobile gaming sphere with a splashy acquisition. The company announced Monday that it is acquiring GluMobile (NASDAQ: GLUU) for $2.1 billion in enterprise value.
That price will be paid entirely in cash. Current GluMobile stockholders are to receive $12.50 each per share, which is 33% higher than Monday's closing price. After hours, understandably, that level shot up to around the purchase price.
Image source: Getty Images.
For further details see:
Electronic Arts Acquiring GluMobile for $2.4 Billion