Glu Mobile Inc., the mobile game studio behind Deer Hunter and the record-breaking Kardashian app, has acquired Long Beach game developer Cie Games for $100 million in a cash and stock deal.
Glu will pay $30 million in cash and an additional $70 million in shares of its common stock.
It is the largest acquisition in the company’s history. Glu, based in San Francisco, also acquired PlayFirst and its mainstay Diner Dash game for $12 million in May in an all-stock deal.
Cie Games specializes in the racing car genre and is the publisher behind the mobile game Racing Rivals, which boasts more than 100 million installs.
“We believe our global publishing, monetization, live operations, and distribution capabilities mean we are able to drive greater cumulative lifetime revenues from games such as Diner Dash and Racing Rivals than could be generated standalone,” Glu Chief Executive Niccolo de Masi said in a statement.
Glu expects the acquisition to close by the end of August.
Shares of Glu were down $1.15, or 16.7 percent, to $5.75 a share in midday Thursday trading on the Nasdaq stock market.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Science Inc. Shares Mobile Plan After Acquiring PlayHaven
- Lindsay Lohan Reveals ‘The Price of Fame’
- Mandalay Digital Buys Appia
- TapZen Receives $8 Million from Tencent
- Hitcents Acquires Appmaker Moonshark
- L.A. Launch List: Dec. 12
- Seriously Launches Mobile Game Best Fiends
- AdColony Purchased for Up to $350 Million