As if mobile gaming isn’t hot enough as it is with three Super Bowl ads from Game of War, Clash of Clans and Heroes Charge to show for it, Glu Mobile, maker of Kim Kardashian: Hollywood announced today that it has sold 14.6 percent of its shares to the Chinese company Tencent for $126 million.
The deal values Glu Mobile around $863 million, making it one of the biggest mobile game companies around in a market that could hit $30 billion this year.
“I am proud to announce that we have entered into a strategic relationship with arguably Asia’s largest internet company and the world’s largest games company – Tencent. I consider their expertise in gaming to be unrivalled and we are excited to power ahead with the support of a fantastic partner that believes in our strategy and shares our vision,” said Niccolo de Masi, Chairman & CEO of Glu.
Tencent already has ownership stakes in Epic Games, Riot Games and Activision and this deal will allow the company to get an even bigger footprint in the US mobile games market as well as open doors for Glu Mobile in Asian markets.
It goes to show how important it is for mobile game companies to break new ground in the market. Using the likenesses of celebrities like the Kardashian-Jenners, Katy Perry and Britney Spears can reach new audiences.
Will we see Glu do a Super Bowl spot with one of these celebs in 2016