Chinese internet giant Tencent has agreed to purchase 21 million or 14.6% percent of shares of U.S. mobile game developer Glu Mobile Inc., totaling US$126 million at US$6 apiece, according to a statement released by the Glu Mobile. As part of the deal, Tencent VP Steven Ma will join Glu’s board of directors.

NASDAQ-listed Glu Mobile is a developer and publisher of free-to-play games for smartphone and tablet devices. The company found major success with a series of hit branded IP games like Kim Kardashian Hollywood, Robocop: The Official Game, and Hercules: The Official Game. Recently the company also announced a five-year deal with pop icon Britney Spears for developing a mobile game.

The tie-up is expected to smooth Glu’s entry into China’s fast-growing gaming market. “Collaboration between our companies will enable Glu to tailor its games more powerfully by tapping Tencent’s strength in online, social and MMO capabilities.” said Ma.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.