Glu Mobile gains $126 million Tencent investment and signs up Britney Spears
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Apr 29, 2015 | investment | Glu Mobile Tencent | $126m |
Having already signed up Kim Kardashian and Katy Perry to longterm deals, Glu Mobile has announced its next celebrity tie-in will be Britney Spears.
The F2P mobile publisher has inked an eight year exclusive deal with Spears.
No details have been provided about the game - which will be released in H1 2016 - but it's expected to follow the mold set by Kim Kardashian: Hollywood - a game which has resurrected Glu Mobile as a profitable business.
Cash injection
As part of its financials, Glu also announced a "strategic relationship" with Chinese gaming behemoth Tencent, which will see Tencent investing over $126 million into Glu.
At the close of the deal, Tencent will own 14.6 percent of Glu.
"Tencent was attracted to Glu due to its five-year growth track record, high-quality entrepreneurial management, and unique approach to methodically building a portfolio of success in the shooter, action-RPG, narrative-RPG, time-management, sports and racing genres," said Steven Ma, SVP and head of Tencent's Interactive Entertainment Group.
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