Glu Mobile (ticker: GLUU, exchange: NASDAQ Global Market (.O))
News Release -
Glu Mobile Completes Acquisition of MIG, China's Leading Mobile Games Publisher
SAN MATEO, Calif., Dec 20, 2007 (BUSINESS WIRE) -- Glu Mobile Inc. (NASDAQ:GLUU) today announced that it has
completed the acquisition of Beijing Zhangzhong MIG Information
Technology Co. Ltd. ("MIG"), a leading developer and publisher of
mobile games for China. The addition of MIG expands the company's
presence in China and deepens Glu's relationship with China Mobile,
the largest wireless carrier in China.
As previously announced on November 29, 2007, Wang Bin, chief
executive officer, MIG, has joined Glu as General Manager focused on
China and Glu added MIG's approximately 80 employees to its worldwide
team. These employees, based in MIG's Beijing and Hefei offices, will
continue to develop and publish mobile games that are relevant to a
local, and potentially global, audience as well as work in conjunction
with Glu's existing Beijing office to further penetrate the Chinese
Cautions Regarding Forward Looking Statements
This news release contains forward-looking statements, including
the belief that the acquisition of MIG will expand the company's
presence in China and deepens the company's relationship with China
Mobile, and the statements regarding the integration of MIG into Glu
and plans to continue to develop and publish games to further
penetrate the Chinese market and potentially globally. These
forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those in the
Investors should consider important risk factors, which include:
we may be unable to successfully integrate MIG into our existing
operations; MIG may be unable to develop and publish mobile games that
achieve market acceptance; the Chinese market for mobile games may not
develop at the rates that we expect; the ability of the combined
companies to further penetrate the Chinese market may be less than
anticipated; the risk that our recently and newly launched games are
less popular than anticipated; and other risks detailed under the
caption "Risk Factors" in the Form 10-Q filed with the Securities and
Exchange Commission on November 14, 2007. We are under no obligation,
and expressly disclaims any obligation, to update or alter our
forward-looking statements whether as a result of new information,
future events or otherwise.
About Glu Mobile
Glu (NASDAQ:GLUU) is a leading global publisher of mobile games.
Its portfolio of top-rated games includes original titles Super K.O.
Boxing!, Stranded and Brain Genius, and titles based on major brands
from partners including Atari, Activision, Konami, Harrah's, Hasbro,
Warner Bros., Microsoft, PlayFirst, PopCap Games, SEGA and Sony.
Founded in 2001, Glu is based San Mateo, California and has offices in
London, France, Germany, Spain, Italy, Hong Kong, China, Sao Paulo and
Chile. Consumers can find high-quality, fresh entertainment created
exclusively for their mobile phones wherever they see the 'g'
character logo or at www.glu.com.
MIG is a leading developer and publisher of mobile games for
China. Founded in 2002, MIG is based in Beijing, China with a
development studio in Hefei, China. MIG focuses on culturally relevant
and popular local titles such as Journey to the West and Romance of
the Three Kingdoms.
GLU MOBILE, GLU, SUPER K.O. BOXING!, STRANDED, BRAIN GENIUS and
the 'g' character logo are trademarks of Glu Mobile.
SOURCE: Glu Mobile Inc.
Nicole Kennedy, 650-532-2488,
Three-Forty for Glu Mobile
Chris Clark, 415-233-4288,
The Blueshirt Group
Todd Friedman, 415-217-7722 (Investor Relations)
Stacie Bosinoff, 415-217-7722 (Investor Relations)