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Glu Mobile Says Co Entered Agreements Related To Divestiture Of Game Development Studio


Saturday, 6 Jan 2018 

Jan 5 (Reuters) - Glu Mobile Inc ::GLU MOBILE-ON DEC. 31, 2017 CO ENTERED AGREEMENTS RELATED TO DIVESTITURE OF GAME DEVELOPMENT STUDIO THROUGH SALE OF ITS UNIT GLU MOBILE (RUSSIA) LIMITED.GLU MOBILE SAYS UNDER SHARE PURCHASE AGREEMENT ‍SABER PURCHASED ALL OF ISSUED AND OUTSTANDING SHARE CAPITAL OF CO'S UNIT - SEC FILING.GLU MOBILE-‍TOTAL CASH CONSIDERATION GLU IS RECEIVING UNDER SPA IS $2.8 MILLION PLUS AMOUNT OF CASH THAT REMAINED IN GMRL'S BANK ACCOUNTS AS OF CLOSING DATE​.GLU MOBILE INC - ‍IN ADDITION, ON DECEMBER 31, 2017, GLU ENTERED INTO AN ASSET PURCHASE AND LICENSE AGREEMENT WITH MGL​.GLU MOBILE INC - ‍PURSUANT TO APLA, GLU SOLD FOUR MOBILE GAMES (AND RELATED INTELLECTUAL PROPERTY AND OTHER RIGHTS) DEVELOPED BY MOSCOW STUDIO​.GLU MOBILE INC - ‍IN CONNECTION WITH DIVESTITURE OF MOSCOW STUDIO, GLU EXPECTS TO RECORD A NON-CASH LOSS RANGING FROM $6.4 MILLION TO $6.6 MILLION IN Q4 2017​.