Visa Acquires Virtual Goods Company PlaySpan For $190 Million
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Visa Inc. (NYSE:V) has acquired virtual goods monetization company PlaySpan for $190 million. The acquisition includes additional payouts based on performance. Visa said that this deal complements the $2 billion acquisition they made for CyberSource.
PlaySpan had raised $46 million in funding since they launched four years ago. The company has partnerships with Disney, Facebook, Ubisoft, and Viacom. PlaySpan is best known for developing a product called UltimatePay. PlaySpan powers the virtual goods marketplace for over 1,000 games. PlaySpan was founded by 12 year old Arjun Mehta in 2006. Karl Mehta, his father acts as the company CEO and co-founder.