The combined company will become the leader in interactive entertainment.

King Digital Entertainment and Activision Blizzard announced reaching an agreement under which Activision Blizzard will acquire all of the shares of King for a total equity value of $5.9 billion.

The acquisition creates one of the largest entertainment networks with over half a billion monthly active users in 196 countries.

The Boards of Directors of both Activision Blizzard and King unanimously approved the proposed transaction, which has to be approved by King’s shareholders and the Irish High Court, clearances by the relevant antitrust authorities and other customary closing conditions. The arrangements are expected to be completed by Spring 2016.

King will continue to be led as an independent operating unit by Chief Executive Officer Riccardo Zacconi, Chief Creative Officer Sebastian Knutsson, and Chief Operating Officer Stephane Kurgan.