• TechCrunch, Friday, July 23, 2010 1:57 PM

Disney is very, very close to acquiring social gaming startup Playdom, reports TechCrunch, citing "oh, about seven independent sources, including sources close to Playdom." Based on due diligence documents reviewed by the blog, the two parties have reportedly referred to the deal as "Project Platinum" internally. Some sources have said the deal is signed and in the closing process. Others say it hasn't been signed yet and could still unravel.

Disney is already an investor in Playdom: The media and entertainment titan's Steamboat Venture recently helped it raise $33 million. In total, Playdom has raised $76, and was most recently valued at around $345 million. "It's probably safe to assume it's a multiple of that $345 million valuation," TechCrunch said regarding the would be acquisition price. Zynga, Playdom's far larger competitor, is reportedly valued at over $2 billion. TechCrunch, for its part, likes the deal because "Disney is weak in the social space," while the company has many brands that could benefit from having social games being built around them.

Read the whole story at TechCrunch »