Gree Buys Social Gaming Platform OpenFeint

Japanese social networking firm Gree has announced its plans to acquire mobile-based social gaming network OpenFeint.

The company will pay $104 million to acquire the social gaming network, which offers a social platform to around 5,000 Android and iOS games including Tiny Wings and Fruit Ninja.

The acquisition marks Gree’s entry into the US mobile social gaming market with the company opening an office in San Francisco. Together with OpenFeint, the company plans to create a massive mobile social gaming ecosystem.

OpenFeint’s platform is accessible by 19,000 developers worldwide who offer games that are played by more than 75 million users. Gree, which is big in Japan, has a total of 25 million mobile users in the country and a market value of $3 billion.

"We are excited that Gree shares our belief in the OpenFeint network and are ecstatic to partner with a renowned global leader to build a multi-billion dollar business," OpenFeint CEO Jason Citron said in a statement.

"Together, we will deliver the strongest global ecosystem of gaming networks to our combined 100 million users." he added.

He informed reporters that OpenFeint will continue to operate from its California office and will work with Gree to expand the company's business opportunities.