After sealing a deal to buy the UK-based game developer Codemasters in December, the American gaming giant Electronic Arts (EA) is back with another big acquisition, this time Glu Mobile , a publicly-traded mobile games developer that's behind popular titles like Covet Fashion and Design Home . EA will pay $12.50 per share for Glu Mobile, summing up to $2.1 billion in total. Combined with Glu's current cash balance of $364 million, the deal sums up to $2.4 billion. EA's acquisition price represents a 36% premium to Glu's closing share price on Friday, the 5th of February 2020. With Glu, EA will be getting a mobile gaming powerhouse with more than 100 million monthly active players across its games. Combined, EA's and Glu's mobile games will have produced $1.3 billion in bookings over the last 12 months. Glu has a team of 800 employees that'll join EA following the completion of its acquisition. 500 of its employees are developers, a significant talent bas
A very big new acquisition has happened in the tech industry, with Okta (NASDAQ: OKTA), the publicly-traded cloud identity and access management software provider, announcing an agreement to buy Auth0, a fellow cloud identity software provider, for a price of $6.5 billion to be paid all with shares. A $6.5 billion exit for Auth0 marks a major win for the startup scene in Seattle, the tech hub where Auth0 is based and also a major win for the company's backers and investors. Auth0 last raised venture funding last year in July with a $120 million Series F round that valued the company at $1.9 billion. Now, it's about to sell for more than triple that amount. Auth0 has raised more than $330 million in total venture funding, with investors including the likes of Salesforce Ventures, Bessemer Venture Partners, Telstra Ventures, Sapphire Ventures, and DTCP. Salesforce Ventures led Auth0's most recent $120 million Series F round. With its acquisition of a fellow cloud identity a