Glu Mobile sells Moscow-based studio for $2.8m
Four in-development titles also sold to My.com for $200,000
Glu Mobile has announced a deal with Saber Interactive worth $2.8 million for the sale of its Moscow-based game studio.
The studio employs around 120 staff and are expected to maintain their jobs under the new regime, PocketGamer.biz reports.
While Glu will maintain rights to some titles developed at the studio, it has also agreed to sell four games which were under development by the Russian team to My.com for $200,000.
These include a new unannounced celebrity game, Last Day Alive, Heroes of Destiny, and Furiosa. Meanwhile, Glu will hold on to Deer Hunter 2017, Contract Killer Sniper, and Frontline Commando D-Day.
As part of the deal, Saber has agreed to "commercially exploit any mobile games that primarily involve hunting deer and/or other animals, subject to limited expectations" for the five years.
Glu has endured a number of staff layoffs and studio closures over the last year and a half but, based on the latest quarterly report, its fortunes have turned around somewhat. Revenues were up by 58% and gross profits reached $49.4 million, up from a loss of $4.6 million the year prior.