Disney to Acquire Social Game Biz Playdom

Through the acquisition, Disney plans to beef up its digital gaming portfolio via popular social networks such as Facebook and MySpace.

"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," says Robert A. Iger, president and chief executive officer of The Walt Disney Company. "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, which will remain headquartered in Mountain View, Calif., will see the company's chief executive officer John Pleasants transitioned to the

The acquisition is expected to close by the end of Disney's 2010 fiscal year. Earlier this month, DIMG acquired Tapulous, a music game developer for the iPad, iPhone and iPod Touch.