Visa Buys PlaySpan for $190M
Santa Clara, CA-based PlaySpan, creator of a widely used payment platform for digital goods in online and mobile games and social networks, will be acquired by credit card giant Visa (NYSE: V) for $190 million in cash plus milestone-based payments, the companies announced today. Founded in 2006 by Karl Mehta, PlaySpan had raised roughly $46 million in venture capital from Easton Capital, Menlo Ventures, Novel TMT Ventures, Silicon Valley Bank Capital, STIC, Softbank, Vodafone, and GE Asset Management. Visa said the purchase would complement its 2010 acquisition of Mountain View, CA-based online payments processor CyberSource.
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