Deal: EA Buys Warner Bros. Games’ Playdemic For $1.4B
Gaming powerhouse Electronic Arts (EA) has added another digit to its string of weighty acquisitions over the past year. It’s agreed to buy Playdemic, a mobile gaming unit of Warner Bros. Games’ that’s best known for the game Golf Clash.
- EA will pay $1.4bn in cash to buy Playdemic. The deal comes just months after the company paid $2.1bn for Glu Mobile, another mobile game developer. Apparently, EA is going the way of acquisitions to build up a strong mobile gaming business, outside its major expertise of console gaming.
- This marks the third time that Playdemic is getting acquired in a decade. It was first sold in 2011 to RockYou and then bought back by its founders that same year, who then sold the company to Warner Bros. Games in 2017.
- 2017 was the year when Playdemic released Golf Clash, the game it’s best known for. It’s a multiplayer golf game with over 80 million downloads globally.
- Playdemic is getting sold just as the parent firm of its owner, WarnerMedia is merging with Discovery Inc to form one of the biggest media companies on US soil. Following the sale of Playdemic, Warner Bros. Games will be left with other mobile games such as Game of Thrones Conquest and Harry Potter: Wizards Unite.
- EA reported $5.6bn in net revenue in its most recent fiscal year. The company has historically made most of its sales from console games but is now pushing hard into mobile games.