Kelvin M. • 18 Comments
Natty Greene • 21 Comments
Thu, Jan. 21, 2:47 PM
- Glu Mobile (GLUU -0.9%) has made an investment in Reykjavik-based trivia game developer Plain Vanilla, with eyes on developing a related TV program and the prospect that Glu will buy the company outright.
- Glu's investing up to $7.5M in promissory notes that are convertible into a minority stake in Plain Vanilla, makers of QuizUp, and it has a call option to acquire the firm at a pre-agreed price for 15 months from the initial investment's closing. Glu chief Niccolo de Masi is joining QuizUp's board.
- The two will focus joint efforts on developing a QuizUp TV program in partnership with NBCUniversal and focused on audience interaction (and driving downloads of the app, which has 40M registered users).
- Shares are lower today but hovering just above a 52-week low of $2.04, made last Friday.
Nov. 3, 2015, 9:50 AM
- Activision Blizzard (NASDAQ:ATVI) is off 2.8% in the wake of last night's surprise announcement that it was buying Candy Crush Saga regents King Digital (KING +14.1%) for $5.9B.
- Cowen's Doug Creutz reiterated his Outperform rating on Activision, calling the deal "an absolute steal for Activision" that "immediately vaults them to being one of the top mobile gaming companies in the world." He has a $35 price target on the stock; just over 4% upside from today's trading of $33.60.
- Meanwhile, Jim Cramer says "If [Activision chief Bobby Kotick] says this is a good deal, it's a good deal."
- With the deal, King may have "solved" its dilemma of how to keep converting players into payers, as the company never quite got beyond the dependence on a single franchise (however lucrative).
- King's mobile and social game rivals are trading up on the acquisition news as well; Glu Mobile (NASDAQ:GLUU) is up 5.2% in early going, while Zynga (NASDAQ:ZNGA) is up 2.5%. Majesco Entertainment (NASDAQ:COOL) is up 6.3%.
Apr. 30, 2014, 4:33 PM
- Along with its Q1 results, Glu Mobile (GLUU) announces it's buying fellow game developer PlayFirst for 3M shares (current value of $12.3M) + the assumption of $3.55M in debt.
- PlayFirst is behind Diner Dash, Cooking Dash, and other popular casual gaming titles available on both PCs and mobile devices. Altogether, its Dash games have been downloaded 750M times over the last 10 years. New free-to-play mobile titles are on tap.
- With a Q1 beat on the books and the PlayFirst deal set to close in May, Glu now expects 2014 revenue of $155M-$161.5M, up from a prior $142M-$150M and above a $147.7M consensus. Q2 revenue is expected to be in a range of $30.6M-$32.7M, in-line with a $31.3M consensus.
- Q1 adjusted EBITDA was $6.5M, well above guidance of $1.5M-$2.5M. Glu expects Q2 adjusted EBITDA of -$3.4M to -$4.5M, and 2014 adjusted EBITDA of $5M-$6.7M (better than prior guidance of $4M-$6M).
- Q1 results, PR
Jan. 31, 2014, 11:59 AM
- Zynga's $527M acquisition of leading mobile game developer NautralMotion is providing a lift to Glu Mobile (GLUU +5.9%), which has frequently been the topic of M&A speculation (some of it involving Zynga).
- The move comes ahead of Glu's Wednesday Q4 report. 14.6M Glu shares (20.5% of the float) was shorted as of Jan. 15, providing ample fuel for a squeeze.
Aug. 2, 2012, 4:58 PM
Glu Mobile (GLUU) is acquiring IGN Entertainment's GameSpy Technology subsidiary. GameSpy provides a variety of tools and services to game developers related to online/multiplayer gaming. Glu plans to leverage GameSpy's solutions to add multiplayer and social capabilities to its mobile games. The acquisition is expected to be neutral to earnings near-term. (PR)| Aug. 2, 2012, 4:58 PM | 3 Comments
Jun. 26, 2012, 4:12 PM
Apr. 30, 2012, 1:25 PM
Rovio CEO Mikael Hed, whose company's estimated valuation has soared as quickly as its game downloads, tells CNBC Rovio is "actively looking" for new acquisitions, as it tries to diversify its revenue base. But in the meantime, Rovio is opening its first Angry Birds theme park (video), and announcing Angry Birds Space (previous) has seen 50M downloads in 35 days. Game developer Glu Mobile (GLUU) has frequently been the subject of M&A talk.| Apr. 30, 2012, 1:25 PM
Apr. 26, 2012, 2:04 PMWedbush's Michael Pachter isn't buying rumors Asian online gaming giant Nexon will buy Electronic Arts (EA +6.9%). With a current market cap of $5.3B, EA would be very tough for Nexon ($8B market cap) to swallow. In addition, employee defections would be huge, Nexon's CEO (owns over 50% of shares) doesn't want to relinquish control, and Nexon has no experience in many of EA's core markets. Also rallying on the rumor: ATVI +2.5%. ZNGA +3.6%. GLUU +3.7%. | Apr. 26, 2012, 2:04 PM | 3 Comments
Apr. 4, 2012, 5:47 PM
Glu Mobile (GLUU) +2.1% AH after stating it has acquired the Deer Hunter brand from Atari. Glu, recently the subject of takeover speculation, has been offering mobile games based on the Deer Hunter franchise for the last 7 years, and has generated over $21M in revenue from them along the way. (PR)| Apr. 4, 2012, 5:47 PM
Mar. 28, 2012, 8:46 AM
Zombie-themed game maker Glu Mobile (GLUU), whose shares already are up 42% YTD, +4% premarket as a Bloomberg article sparks more takeover talk. With analysts estimating revenue will climb 86% in the next two years, GLUU is trading at 2.3x 2013 sales, cheaper than the average for mobile gaming competitors and a 58% discount to Zynga.| Mar. 28, 2012, 8:46 AM | 1 Comment
Jan. 18, 2012, 5:17 PMZynga (ZNGA -6.2%), which sold off today thanks to a downbeat Cowen note, says it has acquired four small mobile game developers: Germany-based Gamedoctors, and U.S.-based HipLogic, Astro Ape, and Page 44 studios. Zynga's interest in bolstering its mobile offerings has led it to make rejected bids for Rovio and PopCap Games, and has also led to speculation it will try to acquire Glu Mobile (GLUU). | Jan. 18, 2012, 5:17 PM