DeNA will pay $300m initially and up to another $100m in performance fees by the end of next year to buy Google-backed Ngmoco.
Japan-based social gaming group DeNA has agreed to buy Google-backed Ngmoco, which makes games for electronics group Apple’s iPhone, for up to $400m in cash and shares.
DeNA will pay $300m initially and up to another $100m in performance fees by the end of next year. DeNA said it would integrate its Mobage software with Ngmoco’s social networking platform Plus+, which runs Apple’s mobile operating system as well as smartphones powered by Google’s Android.
In August, Google Ventures, the corporate venturing division of US-listed search engine group Google, reportedly joined venture capital firms investing in Ngmoco.
News provider Techcrunch said at the time that Ngmoco gained a further $3m to $5m in this funding round after the company closed its $25m series C round in February led by venture capital firms Institutional Venture Partners, Kleiner Perkins Caufield & Byers, Norwest Venture Partners and Maples Investments.
Kleiner Perkins owns about a third of Ngmoco and may see a return of about $100m, according to TechCrunch.
Founded in 1999, DeNA operates the Mobage-town mobile social game platform, which has more than 11 million members, while Ngmoco publishes Rolando,WordFu and We Farm (pictured).
