Electronic Arts buys 'Angry Birds' maker
EA acquires Chillingo, the publisher of the popular mobile game app, for about $20 million.
By Olivia Oran, TheStreet
Chillingo, the publisher of the popular Angry Birds mobile device game, was snapped up for about $20 million, according to Reuters.
Angry Birds, in which players hurl birds in slingshots toward various types of targets to win points and advance to new levels, was ranked the most popular paid Apple (AAPL) iPhone app during the third quarter of 2010 and the second most popular paid iPad app, according to mobile analytics provider Distimo. The game has sold more than 6.5 million copies in the App Store since December 2009.
Electronic Arts did not buy the rights to the Angry Birds franchise or the game's developer, Rovio Mobile. EA will, however, receive access to publishing revenue from the game's sales.
"By acquiring Chillingo, EA Mobile is increasing its market leadership on the Apple platform as well as reaffirming its position as the world's leading wireless entertainment publisher," Electronic Arts said in a statement.
The transaction comes on the heels of DeNA's $400 million acquisition of mobile gaming company ngmoco last week. Other recent gaming deals include Electronic Arts' acquisition of Playfish for $300 million and Disney's (DIS) purchase of Playdom for $763 million.
The mobile gaming market is expected to surge to $11.7 billion by 2014 with Apple's OS software responsible for the bulk of this growth, according to gaming research firm DFC Intelligence.
Shares of Electronic Arts were up 1% to $15.55 Thursday morning.
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
[BRIEFING.COM] The major averages ended modestly lower with the S&P 500 shedding 0.3%.
The benchmark average saw an opening loss of 1.2% after Japan's Nikkei tumbled 7.3%. Japanese stocks sold off amid continued volatility in Japanese Government Bond futures as the 10-yr yield spiked almost 16 basis points to 1.002 before the Bank of Japan's JPY2 trillion liquidity injection caused yields to retrace their gains.
Adding insult to injury was news out of China where the HSBC ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
LATEST MARKET DISPATCHES
- No more Dispatches; here's where to find market news
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
- Dow falls 59 as late-day gloom kills a rally
- Stocks held back by fiscal-cliff worries
- Stocks suffer worst weekly loss in 5 months
- Dow off 121 as post-election swoon continues
- Dow slumps 313 after Obama's re-election
- Dow jumps 133 as Americans head to the polls
In the never-ending contest for sales, American carmakers are pulling ahead.