Glu Mobile acquires GameSpy to expand multiplayer functionality

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Glu Mobile has acquired multiplayer gaming services firm GameSpy Technology from parent IGN Entertainment.

The San Francisco Business Times reports Glu landed GameSpy for 600,000 shares of stock, translating to a value of about $2.8 million. IGN scooped up GameSpy in 2004 for a cost of close to $55 million.

GameSpy powers multiplayer gaming functions like matchmaking, player statistics, individual player profiles, in-game buddy lists and leaderboards--its services are integrated into more than 1,000 mobile and online games, including Glu's Gun Bros Multiplayer, launched on Google's (NASDAQ:GOOG) Android platform earlier this year.

Glu said it will leverage the GameSpy acquisition to expand its cross-platform multiplayer and social gaming ambitions. The publisher adds that existing GameSpy customers will experience no services disruptions stemming from the ownership change.

Also Thursday, Glu reported second quarter 2012 revenues of $23.6 million, up 34 percent year-over-year--smartphone revenues reached $20.4 million, more than double the year-ago period. However, losses grew to $3 million, compared to $1.8 million in the second quarter of 2011--Glu blamed the increase on rising operating costs.

For more:
- read this release
- read this San Francisco Business Times article

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