Japan's DeNA mobile games company said Tuesday that it will acquire American mobile gaming company ngmoco, and add it to its stable of gaming platforms.
Terms of the deal were not announced by ngmoco.
DeNA will pay $300 million in its shares, stock options, and cash in November to buy ngmoco and will pay up to an additional $100 million if the company meets performance milestones. Part of the deal is dependent on ngmoco's earnings for 2011, Reuters reported.
"ngmoco will lead DeNA's efforts in the Western world, including launching a new western smartphone version of the incredibly successful Social Games Network, Mobage (we say "Mo-ba-gae") that we're building together with DeNA," co-founders Neil Young, Bob Stevenson, Alan Yu and Joe Keene wrote in a blog post.
Ngmoco designs games like GodFinger and WeFarm for the iPhone and iPod touch. The company said it plans to add them to the Mobage network of games, which are all tied together via a connected service.
Ngmoco said its are played more than 50 million minutes a day and have been downloaded more than 60 million times on Apple's iOS devices. The company's Plus+ social network has over 13.5 million registered users, with more than 50 million friend connections and has been installed more than 86 million times, it said.
Ngmoco also said that it continues to plan to expand its service beyond iOS devices into the Android OS, with the first games being delivered in the fourth quarter.
"We've also got exciting news for developers & our plus+ partners," the company added. "We're going to be opening up our platforms and frameworks, allowing them to access both the technologies and traffic that power ngmoco & DeNA products globally. By integrating the native libraries and technologies that power our leading ngmoco family of games & our plus+ network with the Mobage SDK, we'll create the Open Mobage Smartphone SDK. Developers who target this platform will gain access to the APIs, Libraries & Services that power the leading smartphone games, effortlessly bring their applications to both iOS & Android and get immediate access to a community of tens of millions of users both here in the West and Japan."
Developers can sign up for the beta at the Web site.
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