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SANTA CLARA, CA, May 17, 2014 - (ACN Newswire) - Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, today announced that the company has completed the acquisition of PlayFirst - creators of Diner Dash(R), Cooking Dash(R), Hotel Dash(R), and Wedding Dash(R).
"We are pleased to officially add PlayFirst to the Glu family and look forward to delivering new DASH products to a worldwide audience," said Niccolo de Masi, Glu CEO.
Glu also announced that the company has issued restricted stock units covering an aggregate of 218,000 shares to 29 newly acquired employees as part of the PlayFirst acquisition. Each of these restricted stock units was issued from the company's 2008 Equity Inducement Plan and vests on a four-year schedule, with 25% of the underlying shares vesting on May 15, 2015 and an additional 6.25% of the underlying shares vesting quarterly thereafter.
Glu's Compensation Committee adopted the 2008 Equity Inducement Plan, which is a non-stockholder approved plan, to facilitate the granting of stock options as an inducement material to new employees joining Glu. NASDAQ Marketplace Rule 5635(c)(4) requires a public announcement of equity awards under this type of plan.
Glu Mobile
Glu Mobile (NASDAQ:GLUU) is a leading global developer and publisher of free-to-play games for smartphone and tablet devices. Glu is focused on creating compelling original IP games such as CONTRACT KILLER, DEER HUNTER, ETERNITY WARRIORS, and FRONTLINE COMMANDO on a wide range of platforms including iOS, Android, Windows Phone, and MAC OS. Glu's unique technology platform enables its titles to be accessible to a broad audience of consumers globally. Founded in 2001, Glu is headquartered in San Francisco with a major office outside Seattle, and international locations in Canada, China, India, Japan, Korea, and Russia. Consumers can find high-quality entertainment wherever they see the 'g' character logo or at www.glu.com. For live updates, please follow Glu via Twitter at www.twitter.com/glumobile or become a Glu fan at http://www.Facebook.com/glumobile.
DASH, DINER DASH, COOKING DASH, HOTEL DASH, WEDDING DASH, CONTRACT KILLER, DEER HUNTER, ETERNITY WARRIORS, FRONTLINE COMMANDO, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu Mobile Inc.
Media Contacts:
Jason Enriquez
Glu Mobile Inc.
PR@glu.com
+1-415-800-6263
Investor Relations:
Seth Potter
ICR Inc.
IR@glu.com
+1-646-277-1230
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Glu Mobile Inc. via Globenewswire
Topic: Merger & Acquisition
Source: Glu Mobile Inc.
Sectors: IT Individual
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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