Disney buying social game developers Playdom

Disney are buying social game developers Playdom, a California based development team that makes games on MySpace, Facebook and iPhone. The reported deal is a mammoth $763.2 million.Disney CEO Robert Iger said, “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.”

He further adds, “This acquisition furthers our strategy of allocating capital to high-growth businesses that can benefit from our many characters, stories and brands, delivering them in a creatively compelling way to a new generation of fans on the platforms they prefer.”

Playdom CEO John Pleasants, talking about the deal with Disney said, “We are at the start of a once-in-a-generation opportunity to transform the way people of all ages play games with their friends across devices, platforms and geographical boundaries. Disney is an incredibly forward-thinking company that shares our vision and is the ideal partner to further our mission to bring great entertainment to people around the world.”