Disney to buy social game firm Playdom
By Gabriel Madway |
July 29, 2010, Thursday
|
Print Edition
Print Edition
WALT Disney Co will acquire start-up Playdom Inc for US$563.2 million, as the media giant aims to take a leading role in the fast-growing market for games played on sites such as Facebook and MySpace.
The deal is the richest ever in the young but fast-growing market for social games, which are free to play and appeal to a wider range of users than traditional video games.
The deal, which is expected to close by the end of Disney's 2010 fiscal year, includes an additional performance-linked earn-out of up to US$200 million, Disney said on Tuesday.
Playdom is the fourth-largest developer on Facebook when measured by active monthly users, according to analytics tracker AppData.
Playdom draws an estimated 42 million active players each month for games such as "Mobsters" and "Social City."
Disney's expansion into the still-evolving market for social games comes as it seeks to sell other businesses like its Miramax film unit. The company is refocusing on big franchise films and brands.
Janco Partners analyst Mike Hickey was surprised at the high price Disney agreed to pay for Playdom, but said it shows how serious a business social gaming has become.
"When you look for growth in the near and medium term, it's digital online that will likely be the real contributor," Hickey said.
Last year, Electronic Arts agreed to buy Playfish, then the No. 2 game maker on Facebook, for US$275 million in cash plus other considerations.
The deal is the richest ever in the young but fast-growing market for social games, which are free to play and appeal to a wider range of users than traditional video games.
The deal, which is expected to close by the end of Disney's 2010 fiscal year, includes an additional performance-linked earn-out of up to US$200 million, Disney said on Tuesday.
Playdom is the fourth-largest developer on Facebook when measured by active monthly users, according to analytics tracker AppData.
Playdom draws an estimated 42 million active players each month for games such as "Mobsters" and "Social City."
Disney's expansion into the still-evolving market for social games comes as it seeks to sell other businesses like its Miramax film unit. The company is refocusing on big franchise films and brands.
Janco Partners analyst Mike Hickey was surprised at the high price Disney agreed to pay for Playdom, but said it shows how serious a business social gaming has become.
"When you look for growth in the near and medium term, it's digital online that will likely be the real contributor," Hickey said.
Last year, Electronic Arts agreed to buy Playfish, then the No. 2 game maker on Facebook, for US$275 million in cash plus other considerations.
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