One of the largest names in video games has made a huge move to beef up its mobile gaming division.

Activition Blizzard announced Monday it plans to pay a handsome $5.9 billion to acquire King Digital Entertainment, the creator of the popular game Candy Crush Saga.

Activision will keep King independent, led by its current CEO Riccardo Zacconi. The new parent will get King at $18 a share — a deal, compared with the $22.50 per share for King’s initial public offering last year.

The price tag of $5.9 billion is a massive sum to pay for King, which has in recent years struggled to maintain its reign over mobile gamers. Since the success of Candy Crush Saga, which has topped charts for years since its debut in 2011, King hasn’t been able to produce an equivalent title. Read more…

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Activision Blizzard will pay $5.9 billion for Candy Crush maker