Glu Mobile (NASDAQ:GLUU
) is currently up 4% to $5.01 on yet another rumor of a buyout at $7/share. The $5 area has been major resistance for GLUU, and a close above it could act as support.
Microsoft (NASDAQ:MSFT) recently made some big announcements, including their new Surface tablet to compete with Apple's iPad and their buyout of Yammer for $1.2 billion. The acquisition of GLUU does make sense if MSFT is aiming to get a better hold in the tablet/mobile gaming arena. Also, the price tag for a GLUU buyout would be a bargain compared to Yammer. Buying out Glu Mobile for only $7/share would be nowhere near $1.2 billion.
About Glu Mobile
Glu Mobile Inc. (Glu) designs, markets and sells mobile games. The Company has developed and published a portfolio of action/adventure and casual games designed to appeal to a cross section of the users of smartphones and tablet devices who purchase its games through direct-to-consumer digital storefronts, as well as users of feature phones served by wireless carriers and other distributors. It creates games based on its own original brands, as well as third-party licensed brands. Its original games include Big Time Gangsta, Blood & Glory, Bug Village, Contract Killer, Contract Killer: Zombies, Eternity Warriors, Frontline Commando, Gun Bros, Men vs. Machines, Stardom: The A-List, Super K.O. Boxing and Toyshop Adventures. On August 2, 2011, the Company completed the acquisition of Griptonite, Inc. On August 1, 2011, it completed the acquisition of Blammo Games Inc.
Microsoft Corporation develops, licenses and supports software products and services. It designs and sells hardware, and delivers online advertising to the customers. It has five segments: Windows & Windows Live Division (Windows Division), Server and Tools, Online Services Division (OSD), Microsoft Business Division (MBD), and Entertainment and Devices Division (EDD). Its products include operating systems for personal computers, servers, phones, and other intelligent devices; server applications for distributed computing environments; productivity applications; business solution applications; desktop and server management tools; software development tools; video games, and online advertising. Its cloud-based computing services include Bing and Windows Live Essentials suite. In October 2011, it acquired Skype Global S.a r.l. In November 2011, the Company acquired VideoSurf Inc. In April 2012, LeGuide.com SA acquired shopping sites in seven European countries from the Company.
Disclosure: I currently hold shares of GLUU.
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