Market Overview

American Express Acquires Sometrics for $30M, Aims to Boost Payment Platform in Video Games


With more than 3.3 trillion virtual currency credits distributed, Sometrics is quite an impressive company.

Its partners include Playdom, Bigpoint, GamersFirst, Atlus Online, IMVU, and PopCap Games, the latter of which was acquired by Electronic Arts (NASDAQ: ERTS) this summer.

Now it seems that Sometrics has been acquired. According to TechCrunch, American Express (NYSE: AXP) has picked up the firm.

Sometrics describes itself as a company that “helps publishers monetize online games through virtual currency with the industry's most advanced in-game payment and optimization platform and consumer digital goods marketplace.” The company says that by using its services, “game publishers gain a new revenue source that enhances existing payment methods and increases conversions among paying users.”

Prior to this acquisition, TechCrunch reports that Sometrics had raised $6 million in funding from the Mail Room Fund, “an investment consortium that includes the William Morris Talent Agency, Accel and Venrock, as well as AT&T (NYSE: T), Greycroft Partners, and Steamboat Ventures.”

Follow me @LouisBedigian


Related Articles (EA + AXP)

View Comments and Join the Discussion!

Posted-In: Accel and Venrock American Express AT&T Atlus OnlineM&A News Success Stories Tech Best of Benzinga