DeNA To Buy Social Game Developer

DeNA Co., a TSE-listed operator of SNS game sites as well as e-commerce sites on mobile phones, announced that it will pay up to $403 million to buy ngmoco Inc., a San Francisco firm that makes mobile social games like Touch Pets, We City and Godfinger. As DeNA aims to be the largest gaming platform in the world, this acquisition is part of their overseas expansion. DeNA will pay a total of $303 million in cash and stock when the deal closes on Nov.9. If the ngmoco is able to meet certain performance targets, DeNA will pay up to an additional $100 million in cash and equity. The major shareholders of ngmoco are KPCB Holding, Institutional Venture Partners, Northwest Venture Partners.