Game publishing titan Activision Blizzard has purchased mobile gaming titan King Digital Entertainment for US$5.9 billion.

The Warcraft, Skylanders, Destiny, and Call of Duty publisher spent US$18 per share on the Candy Crush developer, 20% more than the stock's closing price on October 30th.

Activision Blizzard CEO Bobby Kotick said of the acquisition, "The combined revenues and profits solidify our position as the largest, most profitable standalone company in interactive entertainment."

The purchase instantly grants Activision a place at the top of the mobile gaming sector, as well as adding substantial mobile expertise to the company.

It is expected that the deal will increase Activision Blizzard's 2016 revenue by approximately 30 percent.

For perspective, Disney's purchases of Marvel Entertainment and Lucasfilm Ltd (the latter granting rights to Star Wars in all media) both came to around US$4 billion.

The acquisition must now meet the approval of King shareholders and the Irish High Court, and will need to be cleared by antitrust authorities before its completion in spring 2016.