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Glu Mobile acquires PlayFirst

Glu Mobile acquires PlayFirst

Thu 01 May 2014 7:58am GMT / 3:58am EDT / 12:58am PDT
DevelopmentFinancial

"PlayFirst brings to Glu one of the largest casual gaming brands of all time"

Glu Mobile

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

glumobile.com

Glu Mobile has acquired Diner Dash studio PlayFirst in a deal expected to close in May.

It cost the company a total consideration of 3 million shares of the company`s common stock, abd the assumption of around $3.55 million of PlayFirst debt.

"PlayFirst brings to Glu one of the largest casual gaming brands of all time, as well as the studio-DNA to take Glu`s casual portfolio to ever greater heights," said Glu CEO Niccolo de Masi in a statement.

"We are delighted to add PlayFirst to the Glu family and look forward to the launch of a free-to-play Diner Dash mobile game in Q4 2014. Glu continues to search for globally-recognised IP that can be reinvigorated by leveraging our global studio and publishing organisations. We remain dedicated to creating and growing franchises such as Contract Killer, Deer Hunter, Eternity Warriors, Frontline Commando, Stardom, and now, DASH."

The PlayFirst team will, according to Glu, continue to work independently on its successful franchises with free-to-play versions of Diner Dash, Cooking Dash and Wedding Dash planned before the end of 2015.

Last month Glu announced it was shutting down online gaming platform GameSpy on May 31, a move that affects potentially hundreds of titles. Glu acquired the tech from IGN in August 2012.

1 Comment

Mark Friedler VP Sales, Cubeyou.com

11 20 1.8
Hope it works out. Playfirst has been around 10 years, raised $37.7 million http://www.crunchbase.com/organization/playfirst now sells for $12.3 in Glu stock. Doesn't look like they assigned much value to all the original IP they have created over the years.

Edited 1 times. Last edit by Mark Friedler on 1st May 2014 5:52pm

Posted:5 months ago

#1

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