Companies that go public typically use the money they raise for general corporate purposes, which often means hiring more people to expand the business or increase marketing expenses to bring in more business. But it doesn't hurt to have a few extra dollars lying around when the right opportunity presents itself.

Mobile games developer Glu Mobile Inc. [GLUU], which went public in March, on Thursday said it would acquire Beijing Zhangzhong MIG Information Technology Co. Ltd., a publisher of mobile games for China. Terms of the deal call for Glu Mobile to pay $14.7 million in cash up front and an additional $25 million in cash and stock if certain performance goals are met. Glu said it expects the acquisition to be accretive to its non-GAAP earnings in 2008.

Glu said the acquisition will deepen its relationship with China Mobile, the country's largest wireless carrier. In June, Glu opened an office in Beijing as part of its international expansion. The San Mateo, Calif.-based company raised $84 million in its March IPO. Its shares were up 1% in early trading Thursday on the news.