Time Warner Invests in GluDavid Radd
Glu Mobile announced today that Time Warner has made a "strategic investment" in Glu's latest series of financing. Andy Heller, President of domestic distribution for Turner Broadcasting and head of Turner's GameTap operations, will join Glu's board. Terms of the investment were not disclosed.
"Glu has made huge strides over the past year to solidify its position as a leading mobile entertainment company," said Greg Ballard, president and chief executive officer, Glu Mobile. "Time Warner's investment in Glu is strategically significant for the industry at large, and it validates the efforts we've made to make Glu the thriving company it is today."
"Our strategic partnership with Glu Mobile is an important addition to Time Warner's mobile entertainment initiatives," said Rachel Lam, vice president and group managing director of Time Warner Investments. "We are excited about this company's prospects and are delighted to help support the global expansion of an established industry leader that has a proven ability to develop high-quality wireless games and establish strong distribution partnerships."