The Walt Disney Company has acquired kids online virtual world Club Penguin.
Club Penguin launched in October 2005, and now has over 700,000 paying subscribers and 12 million activated users – mainly in the US and Canada.
The site is based on animated penguin avatars on a snow covered virtual world. Players can converse with each other, engage in group activities and earn currency.
This acquisition is consistent with our strategy of leveraging technology to create and deliver high-quality entertainment around the world and our commitment to investing our capital to generate growth and value for our shareholders,” said Bob Iger, Disney President and CEO. Club Penguin embodies principles that are of the utmost importance to Disney – providing high-quality family entertainment and fostering parental trust.”