Social game developer Playdom has been on an acquiring spree over the last few months with their acquisition of Raph Koster's Metaplace and Acclaim Games, but now it looks like Playdom is the one on the market as the Walt Disney Co. has confirmed an agreement to purchase Playdom. According to a Disney press release, Playdom shareholders will receive total consideration in the deal of $563.2 million with up to an additional $200 million performance-linked earn-out, putting the deal at a possible $763.2 million.

By acquiring Playdom, Disney looks to strengthen its digital gaming portfolio and provide consumers with new ways to interact on popular social networking sites like Facebook and Myspace using Playdom's 15 game development studios.

"We are at the start of a once-in-a-generation opportunity to transform the way people of all ages play games with their friends across devices, platforms and geographical boundaries," said Playdom Chief Executive Officer John Pleasants. "Disney is an incredibly forward-thinking company that shares our vision and is the ideal partner to further our mission to bring great entertainment to people around the world."

The transaction is expected to be completed by the end of the 2010 fiscal year.