Electronic Arts Inc - EA STOCK NEWS

The 2021 eMLS Cup, presented by Coca-Cola, will take place on March 20-21, showcasing the top EA SPORTS FIFA players in North America with a record $40,000 prize pool. The event features 12 players in a single-elimination format, with the top competitors qualifying for the EA SPORTS FIFA 21 Global Series North America Playoffs. The tournament emphasizes the growing appeal of esports among soccer fans, highlighted by a 24% increase in viewership from last year. The competition will be streamed on various platforms, engaging a digitally native fanbase.

Silver Rain Games, co-founded by BAFTA-nominated Abubakar Salim, has partnered with Electronic Arts (NASDAQ: EA) through the EA Originals.Label. This deal will fund Silver Rain's unannounced IP and provide essential guidance. Established in December 2019, the studio aims to create innovative games with a diverse team of around 20 remote staff. Both Salim and Melissa Phillips, Head of Studio, expressed enthusiasm for collaborating with EA, while EA's Matt Bilbey highlighted Silver Rain's potential to deliver unique gaming experiences.

Respawn Entertainment, a studio of Electronic Arts (NASDAQ:EA), has launched Apex Legends™ on the Nintendo Switch, expanding its reach to a broader audience. The game is now available to play alongside users on PC and consoles, coinciding with the Chaos Theory Collection Event. This event introduces a new town takeover featuring Legend Caustic and the Ring Fury Escalation Takeover mode. Players on Switch will benefit from exclusive rewards, including a Legendary Pathfinder skin and double XP for early logins. The Switch version promises simultaneous updates and live service support.

Electronic Arts (NASDAQ: EA) has completed its acquisition of Codemasters for 604 pence (approximately US$8.37) per share, valuing the deal at an enterprise value of US$1.2 billion. This acquisition aims to combine the strengths of EA and Codemasters, enhancing their racing game offerings, including popular franchises like Formula 1, Need for Speed, and DIRT. EA expects the merger to boost net bookings and profitability while leveraging its vast network of over 430 million players, providing opportunities for further growth in the racing gaming market.

PopCap Vancouver, a studio of Electronic Arts (NASDAQ: EA), announced the launch of Plants vs. Zombies: Battle For Neighborville™ Complete Edition on Nintendo Switch on March 19. This edition allows players to unlock all characters from previous editions and post-launch content, whether playing online or offline. Priced at $39.99, it features 23 customizable characters, multiplayer modes, and motion controls. The game is co-developed with QLOC S.A. and is the first on the Frostbite™ engine for Switch, expanding EA's offerings on the platform.

Electronic Arts (NASDAQ: EA) and Velan Studios announced the launch of Knockout City, a competitive multiplayer dodgeball game, set to release on May 21, 2021. The game features cross-play and cross-progression across various platforms, including PlayStation 4, Xbox One, Nintendo Switch, and PC. A closed beta will occur on February 20-21, 2021, allowing players to experience the game early. Knockout City will offer customization options and a free trial period at launch, where players can transfer their progress if they purchase the game for $19.99.

Electronic Arts (NASDAQ: EA) announced a $750 million offering of 1.850% Senior Notes due 2031 and 2.950% Senior Notes due 2051, priced at 99.727% and 99.466% of the principal amount, respectively. The offering is set to close on February 11, 2021, pending customary conditions. EA plans to use the proceeds for general corporate purposes, including acquisitions. J.P. Morgan Securities, BofA Securities, BNP Paribas, and Citigroup are managing the offering. The notes are part of an effective shelf registration statement filed with the SEC, with details available on their website.

Electronic Arts (NASDAQ: EA) plans to offer senior notes in a public offering, subject to market conditions. The net proceeds will be utilized for general corporate purposes, including potential acquisitions. J.P. Morgan Securities and BofA Securities will serve as joint book-running managers for this offering, which is associated with an effective shelf registration statement filed with the SEC. EA's fiscal year 2020 saw GAAP net revenue of $5.5 billion, highlighting its position in the digital interactive entertainment sector.

Electronic Arts (EA) is acquiring Glu Mobile (GLUU) for $2.1 billion in enterprise value. Glu stockholders will receive $12.50 in cash per share, representing a 36% premium on the closing price as of February 5, 2021. The acquisition will enhance EA’s mobile portfolio significantly, with an expected increase in profitability from the first year. EA aims to leverage Glu’s strong franchises and teams to expand its market presence and tap into new audiences globally. The deal has been approved by both companies' boards and is expected to close by June 30, 2021, pending regulatory approvals.