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Latino Daily News

Tuesday February 1, 2011

Latino Social Network, Quepasa, Aquires Game Developer XtFt for $4 Million

Quepasa, one of the world’s largest Latino social networks online,  has acquired Brazilian social game developer XtFt Games owner of TechFront. 

The acquisition of XtFt will allow its team of 41 full-time game developers to focus on developing culturally relevant social gaming IP for the Quepasa platform and other social networks with audiences in Latin America. The acquisition will also better position Quepasa to capitalize, as both a publisher of social games and a platform for playing social games, on the rapid growth and monetization of social games throughout Latin America.

Quepasa will acquire XtFt for net consideration of approximately $4 million.

Quepasa recently reported that its membership base increased 255% in 2010 to total more than 27.2 million registered users. The site added 2.2 million users and generated 16.4 million unique visits in December 2010, compared to 1.2 million new users and 7.1 million unique visits in December 2009. Page views increased to 184 million page views in December 2010 from 175 million in the previous month.