Feeds

Glu Mobile files for $92m IPO

Eyes up European expansion

Next gen security for virtualised datacentres

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. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
EE fails to apologise for HUGE T-Mobile outage that hit Brits on Friday
Customer: 'Please change your name to occasionally somewhere'
Time Warner Cable customers SQUEAL as US network goes offline
A rude awakening: North Americans greeted with outage drama
Shoot-em-up: Sony Online Entertainment hit by 'large scale DDoS attack'
Games disrupted as firm struggles to control network
We need less U.S. in our WWW – Euro digital chief Steelie Neelie
EC moves to shift status quo at Internet Governance Forum
BT customers face broadband and landline price hikes
Poor punters won't be affected, telecoms giant claims
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?