Santa Monica’s Activision Blizzard Inc., which announced late Monday that it agreed to purchase the creator of the “Candy Crush Saga” mobile game, enjoyed a boost in its stock on Tuesday.

The purchase of King Digital Entertainment – which will cost a mammoth $5.9 billion – gives Activision a much bigger presence in mobile gaming. Activision is known for console games, including “Call of Duty” and “World of Warcraft.”

Activision’s stock initially fell early Tuesday but rebounded as much as 9 percent – an all-time high, Variety reports – before closing at $35.82 a share, up 4 percent.