Visa is seeking to expand its e-commerce and mobile payments businesses with the $190 million acquisition of PlaySpan. The cash deal is expected to be completed in Visa’s second fiscal quarter of 2011.
Based in Santa Clara, California, PlaySpan processes transactions for online games and virtual goods sold on social networking websites. It is backed by venture funds, including EastonCapital, Menlo Ventures, Novel TMT Ventures and STIC Investments.
Click here for the release from Business Wire.