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Glu Mobile sells Moscow studio for $4.5M; shares +2.1%

Jan. 05, 2018 5:06 PM ETGlu Mobile Inc. (GLUU) StockGLUUBy: Jason Aycock, SA News Editor14 Comments
  • Glu Mobile (NASDAQ:GLUU) has sold its Moscow studio and some of the games it made, for about $4.5M.
  • Shares are up 2.1% after hours.
  • The studio had focused on shooter/action games, including franchises around Contact Killer, Frontline Commando, and Blood & Glory -- all of which will move to the company's studio in Hyderabad, India. Live operations for Deer Hunter 2017 will also join Deer Hunter Classic in Hyderabad.
  • Other games made in Moscow -- Last Day Alive, Heroes of Destiny, and a mobile game/license agreement for an unnamed male celebrity -- are being sold.
  • Glu is getting about $3M in cash and $1.5M in minimum guaranteed royalty payments. It had originally acquired the Moscow operation in 2008.

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