Not a great strategic move IMO, or at least way too expensive.
King is Candy Crush dependent, they tried and tried again to launch other games, but keep failing and can't make another really successful franchise. And we know that mobile gaming is versatile, Candy Crush can disappear in a few month if another game becomes the "IT" thing. The King model is not sustainable at all.
Remember Zynga? Yeah, me neither.
EDIT : Ah, others said the same thing, didn't see that ^^.