Simpson Thacher is representing Electronic Arts Inc. (NASDAQ: EA) in connection with its entry into a definitive agreement to acquire Glu Mobile Inc. (NASDAQ: GLUU). Under the terms of the agreement, Glu stockholders will receive $12.50 in cash for each share of Glu stock, representing an equity value of $2.4 billion and a total enterprise value of $2.1 billion including Glu's net cash of $364 million. The transaction is expected to close in the quarter ending June 30, 2021 and is subject to approval by the Glu stockholders, the receipt of required regulatory approvals and other customary closing conditions.
Electronic Arts is a global leader in digital interactive entertainment. The company develops and delivers games, content and online services for Internet-connected consoles, mobile devices and personal computers. EA is recognized for a portfolio of critically acclaimed, high-quality brands such as “EA SPORTS,” “FIFA, Battlefield,” “Apex Legends,” “The Sims,” “Madden NFL,” “Need for Speed,” “Titanfall” and “Plants vs. Zombies.”
Glu Mobile is a leading developer and publisher of mobile games. Glu’s diverse portfolio features top-grossing and award-winning original and licensed IP titles including, “Covet Fashion,” “Deer Hunter,” “Design Home,” “Diner DASH Adventures,” “Disney Sorcerer’s Arena,” “Kim Kardashian: Hollywood” and “MLB Tap Sports Baseball” available worldwide on various platforms including the App Store and Google Play.
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