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Rumors floating that DeNA is considering yet another purchase, this time for iPhone game publisher Ngmoco http://bit.ly/duijzn
Update: Yep.. it’s a Done Deal..
According to this note via VentureBeat:
Japanâ€™s hot social mobile gaming firm DeNA is reportedly considering buying iPhone game publisher Ngmoco for more than $400 million.
Techcrunch reported that it heard the rumors from multiple sources and that the price is above $400 million, although that likely includes a large earnout, or a payment based on whether Ngmoco hits performance targets. Ngmoco was started in 2008 by former Electronic Arts executive Neil Young, and it then raised more than $40 million, much of it from Kleiner Perkins Caufield & Byers. Kleinerâ€™s Bing Gordon, former chief creative officer of EA, is on Ngmocoâ€™s board.
DeNA is expecting to generate more than a billion dollars in revenue this year in the Japanese mobile games market, where mobile gaming is much more advanced. The promise of Ngmoco is that the U.S. could potentially be a much bigger market than Japanâ€™s. That may be why DeNA is willing to pay such a high price for Ngmoco. Techrunch said Zynga reportedly looked at making a bid but balked at the high price.
Some sage advise when entering new turf; Stop, Look and Listen.. it’s also good to secure a local guide. Japan is the cradle of mobile civilization – we have been dedicated to this space since 2001 – trust our archives here offer some useful material.
Domestic activities continue to set the pace, and sharp players are looking at global markets. We have hard-earned industry expertise and trusted network of contacts with access to advanced intell. and potential deal flow. Need a lift.. Ok, buckle-up!