Feeds

Glu Mobile files for $92m IPO

Eyes up European expansion

High performance access to file storage

Mobile phone games publisher Glu Mobile has filed for an IPO on the Nasdaq; looking to raise up to $92m in the new year. The money will be used to pay off $12m of current debt, with the rest funding European expansion.

Glu purchased UK publisher iFone in March this year for $23.5m, and has been attracting attention as a possible acquisition target for companies looking to expand into mobile gaming. The interest is despite it losing $17.9m in 2005, and over $10m in the first nine months of 2006 - but these days it's not about revenue but market share.

There is a consensus in the industry that mobile gaming is about to explode, and that the revenue potential is largely unrealised. According to a recent report from Gfk, 4.5 per cent of UK mobile users download a game in a typical month, which is the highest in Europe but still seen as an opportunity for expansion rather than evidence of lacking consumer interest.

In such a climate, an IPO from Glu Mobile should have little difficultly raising funds and expanding into the mature European market, where it can find out if the majority of consumers really want games on the go. ®

High performance access to file storage

More from The Register

next story
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
Broadband Secretary of SHEEP sensationally quits Cabinet
Maria Miller finally resigns over expenses row
Skype pimps pro-level broadcast service
Playing Cat and Mouse with the media
Beat it, freetards! Dyn to shut down no-cost dynamic DNS next month
... but don't worry, charter members, you're still in 'for life'
Like Google, Comcast might roll its own mobile voice network
Says anything's possible if regulators approve merger with Time Warner
EE dismisses DATA-BURNING glitch with Orange Mail app
Bug quietly slurps PAYG credit - yet EE denies it exists
Turnbull leaves Australia's broadband blackspots in the dark
New Statement of Expectations to NBN Co offers get-out clauses for blackspot builds
Facebook claims 100 MEEELLION active users in India
Who needs China when you've got the next billion in your sights?
Facebook splats in-app chat, whacks brats into crack yakety-yak app
Jibber-jabbering addicts turfed out just as Zuck warned
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.