So Glu itself doesn’t get sold out…it bulks up instead. After rumors that mobile game publisher Glu had been shopping itself around (and the likes of Yahoo looked at it), it has bought out UK-based rival iFone. The value of the takeover has not been made public but Manchester-based iFone recorded a turnover of $11 million in 2005.
The acquisition will boost Glu Mobile’s revenue by 30% to 40% and will involve incorporating iFone’s 50 staff into Glu Mobile’s current roster of over 200, said the companies.
MCV: The move creates a new company with a valuation of up to $250 million and ambitions for a U.S. stock market listing in the not too distant future.
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