Andy Schuette has been gaming ever since he could hold a SNES controller in his hands and has been loving every minute of it. He's the funniest guy he knows, and the least funny guy everyone else knows.
The news of Activision Blizzard’s acquisition of King Digital Entertainment looks like sat well with investors with the former seeing a nice jump in value on the stock market (ATVI) today after grabbing a huge portion of the mobile market.
Activision’s stock price hit an all-time high for the company earlier this week at $37.80 per share. Not only did they set a new bar for themselves, they also closed up 3.62% above the prior day with a 7.5% increase since the beginning of the trading day. They closed the day strong at $35.82 per share.*
One year ago today, they were trading at about $20 per share. Needless to say, this year has been good to Activision.
The deal looks to be great for Activision as they will now be able to easily reach a new audience that they have not been able to grab a hold of just yet. With hundreds of millions of downloads for King‘s games, Activision will now see that crowd contributing to their own bottom line as they buy upgrades via the in-app purchase option.
Simply put, this past Tuesday’s deal was huge. Not only in the amount of money spent, but the dividends are already paying off for the video game conglomerate.
(*At the time of writing on the morning of Nov. 5, the price was still sitting at around $37.25)
Image Credit: King Digital Entertainment