In an attempt to edge out competitors in an ongoing war between mobile game developers, King Digital Entertainment PLC (NYSE: KING) announced plans to open a new studio in Stockholm. King officials announced that the new office will specialize developing new mobile platform concepts and games after the company posted a 29% rise in first quarter net profit in May according to the Wall Street Journal.
Looking at the trading history of the past 52 weeks, the share price touched a low of $10.68 and a high of $14.40, bringing its market capitalization to about $4.71 billion.
The developers will also make Candy Crush, King Digital’s flagship, available pre-installed on Microsoft’s (NASDAQ: MSFT) Windows 10. They are also planning on releasing two new titles in the second half of the year.
Despite Candy Crush’s decline in the app charts, it is still the third-highest-grossing game in Apple’s US app store. The company primarily provides Candy Crush Saga, Candy Crush Soda Saga, Farm Heroes Saga, Pet Rescue Saga, and Bubble Witch 2 Saga games.
King’s Stockholm studio will make its debut later this year in the fall, where 30 new employees will be recruited including graphic artists, producers and programmers, on top of a team of existing staff members.