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Posted on July 26, 2011 – 9:26 am | Author: chrisolds
Baseball | baseball cards, digital currency, football cards, MLB, nfl, Topps | Comments (0)
By Chris Olds | Beckett Baseball Editor
Topps‘ focus on social media platforms, e-commerce and virtual trading cards online took another step on Tuesday as it announced the acquisition of GMG Entertainment, a leading publisher of “digital currency cards.”
“The Topps Company has found an ideal acquisition – GMG is a complementary business to our core and one that pivots us into the high-growth retail and digital convergence arena with partners such as Facebook,” said Topps CEO Ryan O’Hara in a prepared statement. “We are delighted to have Rob Goldberg as part of Topps’ senior management. He is a pioneer in new technologies for new digital services delivered at retail and follows in the footsteps of 60 years of creating new products for Topps.”
Terms of the deal were not disclosed but GMG is part of an expanding market as the market for digital currency, according to Topps, is expected to top $7 billion during this year and double by 2014.
And what does GMG do? It creates digital currency cards sold at retail stores for online game, entertainment and social media sites.
“GMG is excited to join a global and forward-thinking business such as Topps,” said Goldberg, the CEO of GMG. “We are looking forward to joining the Topps family as we look to accelerate and grow the category and amplify both of our core businesses on a worldwide platform.”
Chris Olds is the editor of Beckett Baseball magazine. Have a comment, question or idea? Send an email to him at firstname.lastname@example.org. Follow him on Twitter by clicking here.
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