From a bloomberg article on Microsoft:
Mobile: It’s the fastest-growing segment of gaming. Activision owns mobile-gaming studio King, maker of Candy Crush, one of the most popular mobile games of all time. Microsoft has next-to-no presence in mobile gaming. “We all know that the No. 1 gaming device on the planet today is mobile phones,” Phil Spencer, the Xbox chief who on Tuesday was named CEO of Microsoft Gaming, said in an interview. For similar motivations, see Take-Two Interactive Software Inc.’s deal to buy mobile game maker Zynga Inc. for $11 billion, announced earlier this month.
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