Digital River buys fatfoogoo for $10 million
By APWednesday, May 5, 2010
Digital River buys fatfoogoo for $10M
MINNEAPOLIS — Digital River, which provides technology and services for companies that sell products online, said Wednesday it bought fatfoogoo for about $10 million in cash.
The company fatfoogoo provides e-commerce services for online games.
Digital River said by combining the two companies’ technologies, it will be able to offer game publishers and developers a single e-commerce service to manage online sales.
The acquisition signifies the rising popularity of “microtransactions,” in which game companies sell small, cheap in-game items for a few cents or dollars.
Vienna, Austria, will continue to be the home of fatfoogoo, the company said.
The company’s shareholders may be able to get compensation beyond the $10 million if performance targets are met.
Shares of Digital River Inc. rose 30 cents, or 1.1 percent, to $27.95 in afternoon trading.
Tags: Acquisitions, Consumer Product Manufacturing, Games And Toys Manufacturing, Mergers And Takeovers, Minneapolis, Minnesota, North America, Ownership Changes, United States