Walt Disney to acquire social game developer Playdom

MUMBAI: The Walt Disney Company has agreed to acquire online social gaming company Playdom Inc.

Playdom shareholders will receive total consideration of $563.2 million, subject to certain conditions, and a performance-linked earn-out of up to $200 million.

"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 The Walt Disney Company president and CEO Robert A. Iger.

"This acquisition furthers our strategy of allocating capital to high-growth businesses that can benefit from our many characters, stories and brands, delivering them in a creatively compelling way to a new generation of fans on the platforms they prefer," Iger added.

"We are at the start of a once-in-a-generation opportunity to transform the way people of all ages play games with their friends across devices, platforms and geographical boundaries. Disney is an incredibly forward-thinking company that shares our vision and is the ideal partner to further our mission to bring great entertainment to people around the world," said Playdom CEO John Pleasants.

Playdom, which has 15 game development studios, will remain headquartered in Mountain View, California. Pleasants will become an executive vice president of the Disney Interactive Media Group (DIMG) and general manager of Playdom, reporting to DIMG president Steve Wadsworth.

Disney expects Playdom’s expertise in social gaming software tools, business intelligence and rapid innovation to broadly benefit DIMG, which already has a substantial global presence in online, console and mobile gaming.