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Tuesday, April 16, 2024
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EA Closes $1.4B Playdemic Acquisition

  • Electronic Arts closed its $1.4 billion acquisition of Playdemic, maker of popular mobile sports games like 'Golf Clash.'
  • The company has been on an acquisition spending spree.
Electronic Arts/Design: Alex Brooks

Electronic Arts is buying up another major producer of sports games with its acquisition of Playdemic from Warner Bros. Games.

The $1.4 billion deal for the U.K.-based mobile game maker adds hits like “Golf Clash” to EA’s portfolio. “Golf Clash” has over 80 million downloads

The transaction closed on Monday after an initial agreement in June.

EA, publisher of the “FIFA” and “Madden” series, has spent heavily on inorganic growth during the past year.

  • In February, EA dropped $2.4 billion to acquire sports and lifestyle game maker Glu Mobile. Glu’s top games include “MLB Tap Sports Baseball” and “WWE Universe.”
  • In December, EA bought Codemasters for $1.2 billion. Codemasters makes racing games, including the “F1” series.
  • The company had $2.8 billion to work with for future acquisitions as of June

EA’s revenue climbed 6% year-over-year to $1.55 billion in the quarter ending June 30, though net profits slipped 44% to $204 million. At the time, EA boasted over 140 million EA Sports players over the previous 12 months.

The Playdemic deal offloads a major piece of Warner Bros. Games, which will become part of Warner Bros. Discovery when the $43 billion merger between WarnerMedia and Discovery closes. 

The gaming unit was rumored to be for sale last year for $4 billion.

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