Social game studio valued $763m in Disney buy

Disney will acquire social games giant Playdom for a fee that could rise to $763.2 million.

The deal, which was rumoured last week, involves an initial payment of $563.2 million, with a further $200 million dependent on performance.

The news comes weeks after Disney swooped for iPhone music game pioneer Tapulous.

Playdom will remain in Mountain View, California. The firm’s CEO, John Pleasants, will become an executive vice president of the Disney Interactive Media Group, reporting to group president Steve Wadsworth.

Further details can be found on MCV