Japanese Social Media Giant Gree Pays $174M For Game Co.

Law360, New York (October 24, 2012, 10:16 PM EDT) -- Gree Inc., the Internet media firm behind massively popular Japanese social network service GREE, on Wednesday inked a cash deal worth 13.9 billion yen ($173.9 million) for mobile game developer Pokerabo Inc.

The acquisition is part of a strategy Gree implemented this year that has seen it concentrate on developing gaming applications for smartphones, the buyer said in a statement.

“Through this strategic business alliance with Pokerabo, Gree will continue to strengthen its position as a developer of mobile social games for smartphones by sharing the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.