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...
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