Activision Blizzard of Santa Monica has closed its $5.9 billion acquisition of King Digital.

The deal was announced in November but was pending shareholder and regulatory approval. The purchase is being paid by $3.6 billion in cash and a $2.3 billion loan. It is the third-largest buyout in the video game industry’s history.

Activision bought King Digital of Dublin, Ireland to diversify its business into mobile games and expand its user base. King Digital makes the popular mobile puzzle games Candy Crush and Farm Heroes, as well as a number of lesser-known mobile games.

“We now reach over 500 million users across almost every country, making us the largest game network in the world,” said Chief Executive Bobby Kotick in a statement. “We see great opportunities to create new ways for audiences to experience their favorite franchises, from Candy Crush to World of Warcraft to Call of Duty and more, across mobile devices, consoles and personal computers.”

With King Digital part of the family, Activision projects that its Non-GAAP revenue this year will rise from $4.66 billion to $6.25 billion, with earnings per share of $1.75. The company’s stock fell 2.5 percent Tuesday to close at $30.73 a share.

Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.