Visa to Acquire PlaySpan for $190M

Visa Inc. V today announced an agreement to acquire PlaySpan Inc., a privately held company whose payments platform handles transactions for digital goods in online games, digital media and social networks around the world. Visa will pay approximately $190 million in cash, plus additional consideration for performance milestones. PlaySpan is based in Santa Clara, California. The acquisition is expected to be completed in Visa's fiscal second quarter 2011, pending satisfaction of customary closing conditions including regulatory approvals. The acquisition is expected to be slightly dilutive to Visa's earnings per share in its fiscal year 2011 ending September 30, 2011.