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Glu doubles internal development with two studio acquisitions

Wed 03 Aug 2011 7:24am GMT / 3:24am EDT / 12:24am PDT
BusinessDevelopment

Griptonite and Blammo Games join mobile publisher as it narrows losses and increases freemium product

Glu Mobile

Glu Mobile (formerly Sorrent, Inc. and Macrospace Ltd.)
is a leading developer and global publisher...

glumobile.com

Glu Mobile has acquired two games studios, doubling its internal development team as it moves towards more freemium products.

The 200-strong Griptonite Games, best known for licensed titles based on brands such as Captain America, Green Lantern and Ben 10, has been bought from the Foundation 9 collective, and will being working on product for a second quarter 2012 launch.

The mobile publisher has also grabbed Blammo Games, founded by Christopher Locke, one of the creators of iOS hits Smurf's Village and Zombie Café.

"We are very pleased to have completed these acquisitions, as they represent an important step in scaling our business and executing our social mobile games strategy," offered Niccolo de Masi, CEO of Glu.

"The integration of these acquisitions will approximately double our studio capacity dedicated to freemium titles, as well as add proven casual, freemium DNA to our team. We look forward to the exciting contributions that the Griptonite and Blammo teams will collectively bring to our 2012 social mobile gaming pipeline."

The company also reported its second quarter financial results, with sales up from $16 million to $17.7 million, and a reduction in losses from $2.5 million last year to $1.6 million.

"We are very pleased with the continuing momentum during the second quarter, as non-GAAP smartphone revenues accounted for over half of our total non-GAAP revenue for the first time," added de Masi.

"The combination of demand for newly launched and existing titles resulted in Glu reaching over 100 million total cumulative installs to date across smartphone platforms and social networking websites."

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