Tuesday, October 12, 2010

Ngmoco Acquired By DeNA

San Francisco-based Ngmoco, a developer of mobile social games, has been acquired by Japanese firm DeNA, DeNA said today. DeNA said it would pay $400M in cash and securities for ngmoco. According to DeNA, ngmoco shareholders and employees will receive $300M in cash and securities, plus up to $100M in additional consideration based on performance milestones. ngmoco was backed by Kleiner Perkins Caufield & Byers, Maples Investments/FloodGate, Norwest Venture Partners, Institutional Venture Partners & Google Ventures, and was founded by Neil Young, Bob Stevenson, Alan Yu and Joe Keene.