Electronic Arts Is Igniting Its Mobile Growth, but Investors Don't Care
Shares of Electronic Arts (NASDAQ: EA) are currently flat on the year and trailing the S&P 500's return of 14.3%. But EA is putting some serious cash to work to expand its gaming empire, and it could be a good time to consider buying shares.
On the heels of completing its $2.3 billion deal to buy Glu Mobile, EA just recently announced a new deal to pay $1.4 billion for mobile studio Playdemic, the maker of Golf Clash, from AT&T's Warner Bros. game unit. That's a lot of dough to throw at acquisitions in a short period of time, but there is a method to the madness.
Last year, EA made changes to its mobile leadership team, hiring a skilled mobile strategist to create a mobile game business that is second to none.
Source Fool.com
