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Wireless

Tencent to buy 14.6% stake in Glu Mobile

Thursday 30 April 2015 | 09:49 CET | News
Chinese internet and mobile services firm Tencent agreed to buy 14.6 percent of mobile game developer Glu Mobile for USD 126 million to expand in the US gaming market. Tencent owns 'League of Legends' developer Riot Games and has a stake in Activision Blizzard, the owner of the 'Call of duty' franchise. Tencent will pay USD 6 per share for its stake in Glu Mobile. The shares will be purchased in two tranches, one of 12.5 million shares on 29 April followed by another one of 8.5 million some time in the second quarter. Glu Mobile's board were provided with a fairness opinion from Cowen and Co

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Categories: Mobile & Wireless
Companies: Glu Mobile / Tencent
Countries: World
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