Acquisition price: $403m. 2009 revenues: $3.16m.
Japanese social games firm DeNA has published documents giving more details about its acquisition of US mobile startup ngmoco.
One English document that has been published on DeNA's IR site outlines the terms of the deal.
The maximum acquisition consideration is $403 million, of which up to $100 million will be an earnout dependent on financial results.
The $303 million upfront breaks down as follows:
- $146 million in common stocks
- $27 million in warrants of DeNA
- $128 million in cash
The $100 million earnout, meanwhile, will be based on ngmoco's financial results for 2011, and break down as follows:
- $31 million in common stocks
- $12 million in warrants of DeNA
- $56 million in cash
The upfront cash payment of $128 million (10.9 billion Japanese Yen) is just under a third of DeNA's current cash balance of JPY 34.2 billion.
The English document reveals that ngmoco has generated more than 50 million downloads on the App Store as of September 2010.
Meanwhile, it has more than 12 million registered users in its Plus+ Network, which spans 119 games including those of third-party developers.
However, on DeNA's Japanese website, there's another document giving more financial details about the acquisition, including ngmoco's revenues for 2008 and 2009.
Here's the relevant section:
ngmoco's consolidated sales for 2008 were $484,000, with a net loss of $2.46 million. In 2009, its consolidated sales rose to $3.16 million, but its losses increased to $10.89 million.
A $403 million acquisition based on 2009 revenues of $3.16 million? No wonder the deal is making other social games companies' eyes water.
The document also reveals how ngmoco's shares are divvied up:
- KPCB Holdings (32.72%)
- Institutional Venture Partners (25.31%)
- Norwest Venture Partners (13.46%)
- Neil Young (9.52%)
- Bob Stevenson (9.52%)
- Google Ventures (3.65%)
- Maples Investments (1.81%)
- Alan Yu (1.13%)
- Joseph Keene and Susan Andrus (1.13%)
- S.A.M. Trust (1.11%)
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