GLU Mobile Inc, a leading United States publisher of games for cell phones, yesterday offered to buy British rival Superscape Group PLC for about US$36 million.
The acquisition would bring Glu, now the second-largest supplier of games for US cell phones, closer to matching leader Electronic Arts Inc, Glu CEO Greg Ballard said.
Superscape has about 130 employees and headquarters in both San Clemente, California, and in the British town of Fleet. Most of its business is with US carriers like Verizon Wireless and Alltel Corp. Ballard put its US market share at about five percent.
Superscape is listed on the London Stock Exchange. The board has approved the takeover, but it is structured as a tender offer. Glu said it will buy the shares at 10 pence (19.56 US cents) each, a premium of 29 percent to Superscape's Tuesday closing prince of 7.75 pence.
Glu said it had commitments to tender shares from holders of 34 percent of Superscape's stock.