EA CEO: Glu Mobile Acquisition Combines 'Two Great Collections Of IP'
Video game maker Electronic Arts Inc. (NASDAQ: EA) has a long history in mobile games, and its acquisition of Glu Mobile Inc. (NASDAQ: GLUU) is an "opportunity" to take advantage of the fast-growing segment, EA CEO Andrew Wilson said on CNBC's "Squawk Alley."
What Happened: Mobile is the fastest-growing gaming platform in the world and attracts billions of users, Wilson said.
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The combination of EA's business with Glu's will bring together "two amazing teams" and "two great collections of IP," he said Tuesday.
Why It's Important: EA's acquisition of Glu is its second notable deal in recent weeks, as EA acquired Codemasters Group in late 2020 for $1.2 billion.
The earlier acquisition made it clear that games are becoming a more important aspect of people's lives as social interactions shift from physical to digital, Wilson said — and will fit in well with EA's core business.
"When we look at Glu and Codemasters, both deals are accretive, both deals add to our ability to have strategic growth in our business."
What's Next: EA is better positioned to address the growing demand for games by leveraging its global scale and network of 500 million people to "do some amazing things for players," the CEO said.
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