DeNA buys ngmoco for $400m

Japanese social games firm DeNA is to acquire ngmoco for $400 million, the company has confirmed.

The deal, which was strongly rumoured last week, is one of the biggest exits for an iPhone games publisher, although ngmoco recently expanded onto Android.

"The big tide in social gaming is coming, right now. We’d like to capture it and quickly become the world’s No. 1 mobile gaming platform," DeNA CEO Tomoko Namba tells the New York Times.

"We’re only active in the Japanese market, and we haven’t figured out how to cover the Western market. We want to enable developers to go cross-device, and to go cross-border. And we need this to happen quickly, in about the next one or two years."

The full story can be read at ME.