Tencent buys 14.6% Glu Mobile stake

MCV Staff 30th April 2015 Business News

Tencent has acquired 14.6 per cent of Kim Kardashian: Hollywood developer Glu Mobile for $126 million.

The firm has agreed to acquired 21 million shares at a price of $6 each. Head of Tencent’s Interactive Entertainment Group Steven Ma has also joined the US company’s board of directors as part of the deal.

The news comes as Glu entered into an exclusive mobile games partnership with Britney Spears. The first title is expected to be released in the first half of 2016.

Follow the link to Develop for more details.

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