Disney buys social gaming company for $US763.2 million
The rapidly-growing social gaming sector has received a boost with The Walt Disney Company buying market leader Playdom for $US763.2 million.
Playdom is the name behind games including Social City, Sorority Life, Market Street and Bola, and claims to have an estimated 42 million active players each month.
The company, which is just two-and-a-half years old, was acquired for $US563.2 million plus a performance-linked earn-out of up to $US200 million.
The deal represents a big jump in Playdom’s value. Online tech publication TechCrunch says the company’s latest round of funding in June valued the firm at $US345 million.
“This acquisition furthers our strategy of allocating capital to high-growth businesses that can benefit from our many characters, stories and brands, delivering them in a creatively compelling way to a new generation of fans on the platforms they prefer,” Disney chief Robert Iger said in a statement.