informa
/
1 min read
News

Gaming Stocks Up On Popcap Acquisition News

Traders are pushing up the price of major mobile developer Glu Mobile and other gaming companies one day after Electronic Arts announced it would
July 13, 2011
Traders are pushing up the price of major mobile developer Glu Mobile and other gaming companies one day after Electronic Arts announced it would purchase casual developer Popcap games for $750 million. Share of Glu stock were up over 9 percent to $5.68 just after noon, down slightly from a peak of $5.87 per share earlier in the day, its highest trading price since mid-2008. Other gaming companies also seem to be seeing an immediate boost: shares in mobile developer Gameloft were up just over 2 percent to $6.85 on the French Stock Exchange today, and NASDAQ shares for casual-focused game-maker Majesco were up 5.67 percent to $3.14 "The acquisition of PopCap Games within the sector is the primary driver," Roth Capital Partners analyst Adam Krejcik told Reuters. "It further validates the interest and value in social and mobile gaming companies and the multiples companies are willing to pay for." "This transaction only heightens speculation for peer companies of PopCap," he continued. Glu posted a $3.2 million dollar loss for the first quarter of 2011, an improvement from a $3.7 million loss the year before.

Latest Jobs

Treyarch

Playa Vista, California
6.20.22
Audio Engineer

Digital Extremes

London, Ontario, Canada
6.20.22
Communications Director

High Moon Studios

Carlsbad, California
6.20.22
Senior Producer

Build a Rocket Boy Games

Edinburgh, Scotland
6.20.22
Lead UI Programmer
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more