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Viacom Acquires Online Game Community Firm Xfire for $102 Million

Authored by dmw on April 24, 2006 - 7:32pm.
New York - Media conglomerate Viacom announced on Monday that it has acquired Xfire, a provider of online gaming communication and community features, for $102 million in cash. Founded in 2004, Menlo Park, Calif.-based Xfire now claims 4 million users of its software, which adds instant messaging and social networking functionality to hundreds of PC game titles. The company will become part of Viacom's MTV Networks, whose other digital assets include Neopets, GameTrailers and iFilm; Viacom also owns a stake in Chicago-based developer Midway Games. Viacom said Xfire will now be better able to maximize its advertising revenues through stronger marketing efforts and integration with MTV's digital and cable properties.
http://biz.yahoo.com/prnews/060424/nym230.html?.v=28
http://www.xfire.com
tags: Games | Deals | Internet | Social Networking | Investing | Acquisitions | Viacom | Xfire |



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