China’s Tencent has reduced its stake in Glu Mobile. The corporation’s share in the developer decreased from 21.5% to 14.46%.
Kim Kardashian: Hollywood
According to a statement from the U.S. Securities and Exchange Commission (SEC), Tencent has sold just over 7.2 million shares of Glu Mobile.
The total value of the securities sold was $56.2 million, Pocket Gamer writes.
Tencent has 21 million shares of the studio, acquired in 2015 for $126 million. The share purchased at the beginning of 2016 was sold. Interestingly, Tencent decided to sell its stake in the company right now, when Glu Mobile managed to go into the plus for the first time since the end of 2016.
Glu Mobile was actively engaged in the release of games with celebrities. Her most successful hit was Kim Kardashian: Hollywood. But in the last few years Glu Mobile has been plagued by some setbacks. The first quarter of this year turned out to be profitable for her for the first time in a long time. This was facilitated by the release of her games in several genres new to her, including sports.
Let’s add that the last released Glu Mobile title was Real Celebrity Slots. This is the first social casino from this studio.