Electronic Arts to buy Glu Mobile for $2.4 billion in mobile gaming push

An Electronic Arts office is shown in Los Angeles, California, U.S., July 27, 2020. REUTERS/Mike Blake

(Reuters) - Electronic Arts Inc said on Monday it would buy Glu Mobile Inc for $2.4 billion, bolstering its mobile platform with the addition of games such as "Design Home", "Covet Fashion", and "MLB Tap Sports Baseball".

The U.S. video game developer has offered $12.50 in cash for each Glu share, a premium of about 33% to its closing price on Monday. Electronic Arts (EA) stock was up 1.4% in extended trading, while Glu shares surged 34%.