Japanese gaming service DeNA has announced that they are acquiring mobile games developer ngmoco:) for around $403 million.

The combined entity is likely to become one of the largest social gaming company in the world.

Ngmoco:) is a well known company in the mobile gaming market. They develop games for both Apple iPhone and iPad platforms.

DeNA would be paying USD 303 initially for the company. Rest of the payments would largely be based on performance basis.