Time Warner Invests $7.5 Million in Game Publisher Glu Mobile

Authored by Mark Hefflinger on August 23, 2005 - 7:33am.

San Mateo, Calif. -- Mobile entertainment publisher Glu Mobile (formerly Sorrent) announced on Tuesday that it has received a $7.5 million investment from Time Warner. The investment will figure as part of Glu Mobile's series D round, which was led by Granite Global Ventures in May, and will be used for continued global expansion. "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," said Glu Mobile president and CEO Greg Ballard. The head of Time Warner-subsidiary Turner Broadcasting's GameTap broadband games service, Andy Heller, will take a seat on Glu's board of directors. San Mateo, Calif.-based Glu Mobile publishes games for cell phones, including a number based on characters from series airing on Time Warner's Cartoon Network.
http://biz.yahoo.com/bw/050823/235705.html?.v=1
http://www.glu.com