Mobile giant Glu has purchased the studio behind popular trivia game Quiz Up for $1.2m in cash.
According to an SEC filing, the firm also forgave $7.5m in convertible promissory notes it already held in Plain Vanilla, providing the game can be relaunched on the iOS and Android marketplaces under the Glu brand.
Article continues below
The $7.5m was originally invested by Glu at the beginning of this year when it took a minority equity stake in Plain Vanilla. As part of the deal, Glu CEO Niccolo de Masi joined the studio's board of directors and his company was given the option to acquire the firm after 15 months. It seems Glu didn't want to wait that long.
Plain Vanilla CEO Nick Earl will now join the Glu board as its ninth member. He will be a Class II director on the firm's Strategy Committee.
Quiz Up first launched in November 2013 and quickly grew in popularity. Plain Vanilla has since signed a deal with NBC Universal to create a TV show based on the trivia game.