Tencent Hunt for Gaming Tie-ups Finds Goal in Kim Kardashian Game Developer

May 1, 2015, By Sanjeev Ramachandran

Tencent is a big name across the eastern part of the globe, and is the second largest internet company in Asia.

Its name has recently spread across the continents, mainly for the apparent eagerness of the company to claim stake  in gaming companies.

The hunt has now culminated in a new tie up for the Asian company with a name from the west.

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Glu Mobiles Inc. is the one with which Tencent has joined hands. Probably a name which may raise eyebrows, but not when we say that they are the same team that has worked for the game Kim Kardashian: Hollywood – a game that has rose up to the second slot in an all-time list of most downloaded free games in Apple store.

The two companies have announced the tie-up jointly in a statement, according to which Tencent will have a stake of 14.6 percent on the San Francisco based Glu Mobiles Inc.

Tencent will be buying out shares of around 21 million at $6 apiece. Tencent has already acquired stakes in other gaming companies from the west, noteworthy among them being Activision Blizzard Inc.

Speaking of their new association, Tencent’s senior vice president Steven Ma has cited the growth rate of Glu in the past five years to be a catalyst for the deal to take place.

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He said that Glu mobiles could craft its games in an even robust manner with the strength of Tencent.

Glu Mobiles has gained windfalls with the Kim Kadarshian game that has grossed $29.3 million in the fourth quarter, accounting to almost 40% of the net revenue of the gaming company.

Glu Mobiles is also planning to launch a kindred game this year during the fall, which will be coming under a five year partnership with Katy Perry.

Apart from that, the company is also in talks for a Britney Spears game, which too will be developed on the basis of a five year deal, possibly with a three year extension.

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