Electronic Arts (EA) closed an acquisition of WarnerMedia’s gaming unit Playdemic from AT&T for $1.4 billion three months after striking the deal, as the digital entertainment company continues to press ahead its ambitious mobile growth strategy.
The pair stated the deal [1] was now completed, with the $1.4 billion figure in cash subject to customary purchase price adjustments.
For AT&T, the sale represents the latest move to divest non-core assets to fund network investment and debt reduction, while representing a coup for EA in adding a major mobile gaming studio to its portfolio.
Playdemic is best known for mobile game Golf Clash, which has racked up more than 80 million downloads globally to date since launch in 2017. EA said its mobile strategy was focused on delivering new interactive entertainment for its network of nearly half a billion players around the world.
With the addition of Playdemic, EA’s portfolio now spans more than 18 top mobile services “across fast-growing genres” including lifestyle, casual, sports and mid-core games.
EA explained mobile was the “world’s biggest and fastest-growing gaming platform”, and the Playdemic acquisition was another step in expanding that proposition.
“With Playdemic now part of Electronic Arts, we’re excited to bring even more amazing and innovative mobile games to diverse audiences around the world,” said EA CEO Andrew Wilson.
[1] https://www.mobileworldlive.com/featured-content/top-three/ea-playdemic-att
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