Visa Buys E-Commerce Platform PlaySpan For $190M

Law360, New York (February 9, 2011, 1:05 PM EST) -- Visa Inc. said Wednesday that it would pay $190 million in cash to acquire privately held PlaySpan Inc., a Silicon Valley company specializing in technology that handles payments for digital goods in online games, digital media and social networks.

PlaySpan is a leader in the relatively new sector, which generated an estimated $25 billion in consumer spending globally in 2010. That total is expected to balloon to $280 billion by 2014, the companies said.

Accordingly, Visa said it views the purchase as a significant growth opportunity...
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