Internet & Social Media Law Blog
According to a press release today, the Walt Disney Company has agreed to acquire Playdom Inc., one of the leading
companies in the fast-growing business of online social gaming for $563 million plus an earn out of up to $200 million more.
According to the release, in just two and a half years of operation, Playdom has established itself as
a pacesetter in building popular games for social networks enjoyed by consumers
around the globe. Through well-known titles like Social City, Sorority Life,
Market Street and Bola, Playdom engages an estimated 42 million
active players each month.
Disney President and
CEO, Robert A. Iger stated:
“We see strong growth potential in bringing together Playdom’s talented team
and capabilities with our great creative properties, people and world-renowned
brands like Disney, ABC, ESPN and Marvel.” said Robert A. Iger, President and
CEO, The Walt Disney Company.
This deal is just the latest in what has been a rapidly growing and evolving industry segment.