Japan’s DeNA Co. buys U.S. game developer ngmoco
Japanese social media website operator, DeNA Co., is to acquire ngmoco Inc for $400 million, an unlisted U.S. developer of games and applications for smartphones. DeNA’s acquisition of ngmoco will fuel its rivalry with US firm Zynga – set to become one of the defining battles of cross-platform social gaming in the next year or two.
US-based Ngmoco develops games for the Apple iPhone and plans to expand into Android games later this year. DeNA operates Mobage-town, a mobile games platform with over 20 million users in Japan. San Francisco-based start-up ngmoco develops games that can be played on Apple Inc.’s iPhone and iPod Touch. It also plans to start making games for handsets using Google Inc.’s Android operating system this year. Ngmoco was founded in 2008 just as the App Store launched.
DeNA fell 1.6 percent to close at 2,373 yen on the Tokyo Stock Exchange before the announcement. The Nikkei 225 Stock Average dropped 2.1 percent.
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