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Gree to Acquire OpenFeint for $104 Million to Expand in U.S.

Gree Inc., the Japanese operator of social-networking services, agreed to buy California-based online games network OpenFeint Inc. for $104 million in its biggest acquisition to expand in the U.S.

The purchase of OpenFeint, a provider of 5,000 games to smartphone users, will help the Japanese company reach 75 million additional customers, Gree said in a statement today. The Tokyo-based company will use its cash to fund the purchase, Reina Mito, a spokeswoman, said by phone today.