Chinese Internet giant Tencent agreed to take a minority stake in Glu Mobile. Tencent will pay US$126 Million for a 14.6 per cent stake in the California-based Glu Mobile Group.
Tencent operates online and social networking services including instant messaging service QQ and the mobile messaging service WeChat. Also Tencent is already a major global player in games industry. “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,” said Glu chairman and chief executive Niccolo de Masi. “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.”
Glu, known for its free-to-play games for smartphone and tablet devices (“Contract Killer” and “Kim Kardashian: Hollywood”), announced separately a partnership with Pop Star Britney Spears on the development of a new mobile game. Featuring the voice, likeness, and creative influence of Ms. Spears, the game will allow players to interact with Britney and experience the glitz and glamour of the entertainment Business.
