Disney Buys Social Network Game Firm Playdom for $563.2 Million
Playdom's investors will receive $563.2 million, providing certain targets are hit. The company currently has 42 million active players a month and operates such titles as Social City, Sorority Life, Market Street and Bola.
"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 CEO Robert Iger said in a statement. The deal is expected to close by the end of Disney's fiscal year.