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UPDATE 1-EA buys 'Golf Clash' creator Playdemic for $1.4 bln

Reuters
·1-min read

(Adds background, details)

June 23 (Reuters) - Electronic Arts said on Wednesday it had bought Playdemic Ltd, the mobile games studio responsible for "Golf Clash", for $1.4 billion in cash, in a bid to bolster its mobile gaming portfolio.

The company, known for its "FIFA" and "Madden NFL" video games, is buying Playdemic from Warner Bros Games, a unit of WarnerMedia that is being hived off from AT&T Inc.

The deal will help expand its mobile gaming titles across fast-growing genres, including lifestyle, casual, sports, and mid-core games, EA said in a statement.

Mobile game downloads ran into billions after the onset of the pandemic, as demand for virtual entertainment soared after major public events were canceled to stem the spread of the novel coronavirus.

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EA has been on a buying spree as it sits on a strong balance sheet and looks to scale up by adding more gaming titles. It acquired Glu Mobile for $2.4 billion in February and UK-based Codemasters for $1.2 billion in December.

The gaming industry has also seen a series of acquisitions in the past few months, including Microsoft's $7.5 billion acquisition of ZeniMax Media and Swedish video game group Embracer buying Gearbox and Easybrain.

(Reporting by Eva Mathews in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva)