TechCrunch alerts us to the purchase of Club Penguin by Disney. The price: $350 million cash, plus up to another $350 million based on performance metrics.

Here’s the letter from the Club Penguin founders posted on their site, and assuming the sentiments expressed there are observed in the next few years, it’s very likely a smart move for both sides.

This entry was posted on Thursday, August 2nd, 2007 at 6:00 am and is filed under Internet Stuff, Marketing Stuff.