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Saturday, Jun 25, 2022

Glu Mobile Acquires Long Beach’s Cie Games

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.

Staff reporter Melissah Yang can be reached at MYang@labusinessjournal.com. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.

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