Glu Mobile Inc. has acquired Griptonite Games and Blammo Games to augment its offerings of social games for handheld devices such as smartphones and tablets. The company has 200 employees and is based in Kirkland, Washington. The deal will provide the game developer with art and development support from Griptonite’s base in Hyderabad, India. Blammo Games is based in Toronto, Canada, and has produced such top freemium titles as Smurf’s Village and Zombie Café.
The consideration for the Griptonite acquisition consists of Glu issuing a total of 6,106,015 shares of common stock. Glu will issue the Blammo shareholders with 1,000,000 shares of common stock as initial consideration and will potentially issue up to 3,312,937 additional shares of common stock if Blammo meets certain net revenue milestones.