Zynga vs. MindJolt: MySpace founder Chris DeWolfe has buyout spree

Wasting no time after MySpace's imminent failure, founder and former CEO Chris DeWolfe has acquired two new social game development companies through MindJolt, his own social game platform. MindJolt gobbled up both SGN and Hallpass Media, a leading developer and publisher of social mobile games and a popular free online game network, respectively.

The terms or amounts spent on the buyouts are undisclosed, but DeWolfe said this in a statement: "The acquisition of SGN and Hallpass broadens our content offering and extends our reach," DeWolfe said. "Mindjolt becomes a cross-platform 'triple threat' with great games across mobile, social, and web platforms. This three-pillar approach enables MindJolt to deliver our games wherever people choose to play, and differentiates our service from others in this space."