Glu Mobile has finally announced their long-rumoured plans to be listed on the US stock exchange by filing for IPO (Initial Public Offering) on the Nasdaq. The company hopes to raise around US$92 million, to be used partially to pay off some debt, and partially to help expand the company.

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.

Via The Register.

This entry was posted on Friday, December 22nd, 2006 at 1:45 pm and is filed under Cell Phone. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.