You might remember GREE as the Japanese social network that picked up OpenFeint around this time last year. Since then, the company has been, like Zynga, Mobage, and a few other giant social networks, looking to pick up social and iPhone/mobile developers to make games for its millions of users to play. And GREE's latest target is Funzio. The developer of Kingdom Age and Crime City on the iPhone has reportedly been acquired for the sum of US$210 million.
The name of the game here is users. GREE has earned tons of them, both in Japan and overseas, and needs content and games to keep them interested and growing. So Eastern companies like GREE are turning to Western devs like Funzio (which is based in San Francisco) to make content for them. We're right in the middle of this trend, so we can expect to see more big purchases like this, from GREE and other networks, yet to come.