Disney to acquire social-gaming company Playdom

Rumors that The Walt Disney Company would acquire social-gaming conglomerate Playdom have turned out to be true: Disney issued a statement on Tuesday, after the market closed, announcing its intent to acquire Playdom for $563.2 million, plus potential earnouts 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," President and CEO Robert Iger said in the statement.

The Mountain View, Calif.-based Playdom is the manufacturer of popular social games such as Social City, Sorority Life, and Bola, which are built on top of social-networking platforms such as Facebook and MySpace. 42 million people play Playdom games per month, the release said.

Playdom rival Playfish was acquired by Electronic Arts late last year for about $300 million. Bigger competitor Zynga remains independent and has been rumored to be a candidate for eventually going public.

Read More | CNET

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