Word of an alliance between Japan’s Softbank and social games leader Zynga first leaked back in April.
Then in June, various news organisations reported that Zynga had raised $147 million from Softbank.
Zynga would not comment at the time, but today the company confirmed that Softbank has indeed invested $150 million into Zynga.
Zynga and Softbank are taking the opportunity to launch a joint venture, called Zynga Japan, which will develop and distribute social games across Japan. The companies said that the new venture “brings together leaders in social games and consumer technology to offer millions of new users the ability to play social games anytime and anywhere.”
Zynga Japan will be based in Tokyo and will “tap into Japan’s rich history of gaming and leverage Softbank’s cutting edge mobile and Web technology to produce the best social games in the market.”
“Zynga is a leader in social games and I am delighted to partner with them to introduce their social games to Japan,” said Masayoshi Son, chairman and CEO of Softbank. “We share the same vision as Zynga in social games and look forward to working together to create a social game powerhouse.”
“We’re excited to partner with Softbank to bring Zynga’s social games to Japan and gain insights from the Japanese market,” said Mark Pincus, CEO and Founder of Zynga. “As one of the most innovative technology companies in the world, Softbank is bringing the mobile internet to consumers making the social web more accessible to people everywhere.”
Zynga continues to lead the social space, but its rivals are making big moves too. Playdom was just acquired by Disney in a massive deal worth up to $763 million.
Business Insider Emails & Alerts
Site highlights each day to your inbox.