Gaming giant Activision Blizzard is set to buy the maker of Candy Crush in a deal worth 5.9 billion US dollars (£3.82 billion).

Activision said the purchase of King Digital Entertainment would "create one of the world's largest entertainment networks" with more than half a billion active users in 196 countries.

Candy Crush is one of the world's most successful mobile games, while Activision boasts huge franchises such as Call Of Duty and World Of Warcraft in its stable.

King chief executive Riccardo Zacconi will continue in his role at the firm, along with chief creative officer Sebastian Knutsson, and chief operating officer Stephane Kurgan.

Shareholders in King are set to received 18 US dollars (£11.66) per share, which represents a 20% premium on the firm's October 30 closing price, Activision said.