Electronic Arts To Buy Warner Bros. Games' Playdemic For $1.4 Bln In Cash - Quick Facts

(RTTNews) - Digital interactive entertainment firm Electronic Arts, Inc. (EA), AT&T, Inc. (T) and WarnerMedia announced Wednesday the sale of Warner Bros. Games' Playdemic, Ltd., the mobile games studio responsible for Golf Clash, to Electronic Arts for $1.4 billion in cash.

The purchase price for the transaction is subject to customary adjustments, and will be paid in cash at closing and retained by AT&T. The transaction is subject to customary regulatory approvals.

Playdemic is a premier mobile gaming company founded in 2010 and known for its popular, award-winning game Golf Clash, which is available on iOS, Android, and Facebook and allows players to compete with each other around the world in real time.

The acquisition of Playdemic is part of Electronic Arts' mobile growth strategy focused on delivering exciting new experiences for Electronic Arts' network of nearly half a billion players around the world.

Playdemic's portfolio and talent will be a significant addition to Electronic Arts's mobile growth engine. The acquisition will add to Electronic Arts' mobile portfolio of more than 15 top live services across fast-growing genres, including lifestyle, casual, sports, and mid-core games.

The remaining Warner Bros. Games portfolio is included in the recently announced WarnerMedia-Discovery transaction and will become part of the combined media and entertainment company after the expected close of that transaction.