Visa Inc. is paying $190 million in cash to buy PlaySpan Inc., a private company that provides e-commerce services to developers of online games and smartphone applications, the card brand and network announced Feb. 9.
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The acquisition of the Santa Clara, Calif.-based company will augment the payment network’s deal last year to buy the online payments gateway CyberSource Corp. for $2 billion, Visa said in a press release.
PlaySpan’s technology enables game and app developers to sell content through “in-app purchases” in 180 countries.
Visa, which may pay additional amounts for performance milestones, expects the transaction to close by March 31, pending regulatory approvals, it noted in the release.
