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TMNG cited in "Game coin goes mobile"
Oct 26, 2010
App-maker ngmoco touches up Japanese firm DeNA for $400 mil
By CHRIS MORRIS
Variety
As social gaming companies get snatched for ever-escalating amounts, the wave of acquisitions and investment money has turned to makers of mobile videogames.
Over the last two weeks, there have been three substantial buyouts and investments in the mobile market -- and the transactions could signal the beginning of a larger trend in use of mobile devices for gaming.
Electronic Arts bought Chillingo, publisher of the massive iPhone hits "Angry Birds" and "Cut the Rope," for $20 million. Aurora Feint, creator of the mobile social gaming network OpenFeint, picked up $8 million in financing from venture capitalists.
But both deals pale in comparison with the buyout of ngmoco, a maker of iPhone and iPod touch games that was founded by game industry vet Neil Young. Japanese company DeNA paid an eye-popping $400 million in cash and stock for the company earlier this month.
