Fenwick Represents Glu Mobile in $2.4 Billion Acquisition by Electronic Arts

Fenwick represented Glu Mobile, a leading global developer and publisher of mobile games including Design Home, Covet Fashion, and MLB Tap Sports Baseball, in its definitive agreement to be acquired by Electronic Arts, a global leader in interactive entertainment.

Glu stockholders will receive $12.50 in cash for each share of Glu stock, representing an equity value of $2.4 billion, and a total enterprise value of $2.1 billion including Glu's net cash of $364 million.

The combination of Electronic Arts and Glu creates a leading mobile product portfolio that includes more than 15 top live services across fast-growing genres with a combined $1.32 billion in bookings over the last 12 months. The transaction is anticipated to close in the quarter ending June 30, 2021, subject to approval by the Glu stockholders, the receipt of required regulatory approvals and other customary closing conditions. Find more information in the public announcement.

Fenwick has served as counsel to Glu for more than a decade, including representing the company in its 2007 initial public offering, a number of follow-on offerings, as well as acquisitions of MIG, PlayFirst, CIE Games, CrowdStar and a number of other companies.

The Fenwick transaction team for Glu’s acquisition by EA was led by corporate partner David Bell and included M&A partner David Michaels and associates Victoria Lupu, Victoria Wong, Johnny Meraz-Debraine, Stephanie Cheng, Leeza Soulina and law clerk Elizabeth Gil; securities partner Julia Forbess; executive compensation & employee benefits partner Liz Gartland, counsel Nicholas Frey and associate Emily Gulyako; privacy & cybersecurity counsel Helen Christakos; technology transactions partners Stephen Gillespie and Joseph Schenck and associates Ana Razmazma, Julia Arruda and Brandon Cheung; trademark associate Moira Lion; antitrust & trade regulation partner Mark Ostrau; securities litigation partners Dean Kristy and Felix Lee and associate Vincent Barredo; and tax partner Larissa Neumann, counsel Ora Grinberg and associate Timmoney Ng.