Fremont-Based Offerpal Media Acquires Palo Alto's Tapjoy

Fremont, Calif. – Offerpal Media, the Fremont-based developer of a virtual currency platform for online games, virtual worlds and social networks, said on Tuesday that it has acquired Palo Alto-based Tapjoy, creators of a similar platform targeting mobile devices. Financial terms of the deal were not disclosed. Offerpal said that the acquisition hastens its expansion into the rapidly growing mobile market. "There are more than 200 million mobile phone users in the U.S. alone, and most of them will soon have a way to play games on their devices," said George Garrick, the chairman and CEO of Offerpal. "We also expect the microtransaction model to move beyond games." Tapjoy's platform enables mobile developers to embed virtual goods storefronts with the ability to process microtransactions. Tapjoy founders Lee Linden and Ben Lewis, who originally developed iPhone applications such as TapDefense, TapSudoku and TapWord, will join Offerpal in unspecified leadership roles.
http://www.offerpalmedia.com
http://www.tapjoy.com/
http://www.prnewswire.com/news-releases/offerpal-media-acquires-leading-mobile-monetization-provider-tapjoy-88903182.html