Thursday, April 21, 2005
JAMDAT Buys Blue Lava Wireless For $137M
Los Angeles-based mobile entertainment publnisher JAMDAT Mobile has acquired Blue Lava Wireless, a developer of wireless entertainment, for $137M. The acquisition brings JAMDAT an exclusive 15 year worldwide license to the wireless version of the popular game Tetris, and according to JAMDAT is expected to add immediately to its bottom line. JAMDAT will immediately begin publishing Tetris in North America, Latin America, and India, and will acquire rights to Europe, China, Japan, Korea, Australia and New Zealand, when current licenses expire at the end of 2005. JAMDAT also said that it expects its Q1 2005 revenues to be approximately $15.0M, above its original $14.1M guidance. Blue Lava is a Honolulu-based developer and publisher of Tetris, Blue Blocks, Pinball Dragon and Dell Magazine Crosswords. The deal will be split between $60M in cash, 4.05M shares of stock, and a deferred payment of $13.7M.