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Glu Mobile (NASDAQ: GLUU) has launched MLB Tap Sports Baseball 2021 on the App Store and Google Play, featuring MLB All-Stars Juan Soto and Ronald Acuña Jr. as cover athletes. The game includes new features such as pitching and Club Rally events, enhancing its competitive gameplay. The franchise has seen over $340 million in lifetime bookings. With more than 45 million downloads, this installment promises a comprehensive MLB experience, including real teams, players, and ballparks.
Glu Mobile Inc. (NASDAQ: GLUU) reported robust financial results for Q4 and the full year 2020, with a 32% increase in bookings to $560.6 million compared to 2019. Q4 revenue rose to $141.4 million from $112.9 million, with net income of $23.9 million versus $10.8 million a year earlier. The company achieved a gross margin of 65.5% and ended the year with $364.4 million in cash. Strong performance from existing titles and new launches, alongside significant profitability improvements, led to record margins. An acquisition proposal by Electronic Arts was also announced.
Electronic Arts (EA) is acquiring Glu Mobile (GLUU) for $2.1 billion in enterprise value. Glu stockholders will receive $12.50 in cash per share, representing a 36% premium on the closing price as of February 5, 2021. The acquisition will enhance EA’s mobile portfolio significantly, with an expected increase in profitability from the first year. EA aims to leverage Glu’s strong franchises and teams to expand its market presence and tap into new audiences globally. The deal has been approved by both companies' boards and is expected to close by June 30, 2021, pending regulatory approvals.
Glu Mobile (NASDAQ:GLUU) announced participation in a fireside chat at the Goldman Sachs Technology & Internet Conference on February 10, 2021, at 11:00 a.m. PT. Key executives, Nick Earl and Eric R. Ludwig, will represent the company. A live webcast and replay will be accessible on Glu's investor relations website, providing updates for stakeholders.
Founded in 2001 and headquartered in San Francisco, Glu is renowned for mobile games like Covet Fashion and Disney Sorcerer’s Arena.
Glu Mobile (NASDAQ: GLUU) announced its financial results for Q4 and the full year ended December 31, 2020, set for release on February 9, 2021. The management will host a conference call at 2:00 p.m. PT to discuss these results. Investors can access the details through the company's website (www.glu.com). Glu is a prominent mobile game developer known for top titles like Covet Fashion and Deer Hunter.
Glu Mobile (NASDAQ: GLUU) has filed a lawsuit against Reworks Oy in federal court, alleging patent infringement related to competitive scene completion in its popular mobile game Design Home. The lawsuit targets Reworks' game Redecor, claiming it violates U.S. Patent No. 10,504,297. Glu, known for investing heavily in Design Home, which has over 90 million downloads and more than $500 million in lifetime bookings, seeks monetary damages and an injunction. The company emphasizes its need to protect its intellectual property.
Glu Mobile Inc. (NASDAQ: GLUU) announced that its President and CEO, Nick Earl, along with COO and CFO Eric Ludwig, will present at two virtual conferences. They will participate in a fireside chat at the Wedbush Winter Games Forum on December 3, 2020, at 10:00 AM PT, and in one-on-one meetings at the UBS Global TMT Virtual Conference on December 9, 2020, at 11:50 AM PT. Investors can access a live webcast of the UBS chat and replay via the company's investor relations website.
Glu Mobile (NASDAQ: GLUU) will announce its third quarter financial results after the market closes on November 5, 2020. A conference call will follow at 2:00 p.m. Pacific Time to discuss the results. The financial report will be available on the company’s website. Glu Mobile specializes in mobile game development and publishing, with a portfolio that includes popular titles like Covet Fashion and Kim Kardashian: Hollywood.
Glu Mobile Inc. (NASDAQ: GLUU) has launched Design Home Inspired, a new mobile e-commerce store within the popular game Design Home. This initiative allows players to purchase home décor items ranging from $10 to $1,500, while earning digital currency for the game with each real-world purchase. Design Home has over one million daily active users and has surpassed half a billion dollars in lifetime bookings, highlighting its successful integration of gaming and e-commerce.
