DeNa Co. officials announced the buyout, which was approved by the company’s board Tuesday, in a statement to the Tokyo Stock Exchange.
Ngmoco has developed the popular iPhone games Rolando and Topple.
The deal is expected to close in the upcoming weeks.
DeNa’s chief executive, Tomoko Namba, told the New York Times, “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. 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.”
SmarTrend is bullish on shares of Apple and our subscribers were alerted to buy on September 08, 2010 at $261.74.
The stock has risen 13.5% since the alert was issued.