In breaking news, the Japanese gaming company DeNA just announced their latest gaming acquisition, Ngmoco Inc., for $300M in Cash plus $100M promised if targets met by end of 2011. Founded two years ago, Ngmoco is a top game developer for the iOS platform and also has a social gaming network called Plus+. More after the jump.

Ngmoco has made many successful titles like We Rule, We Farm, Touch Pets, Godfinger, and others. Ngmoco also has its own gaming network called Plus+ that has tons of other games in its network. This acquisition will allow DeNA to strengthen MiniNation as it vies for the top mobile publisher position.

This is the 4th investment by the company in the Western front that is part of DeNA’s larger strategy to develop a stronger U.S. presence. Ngmoco recently acquired Astro Ape in New Jersey, Gameview in Mountain View, CA, and Icebreaker in Washington. DeNA also owns 20 percent of the mobile gaming company Aurora Feint based in Burlingame.

DeNA’s plans to create MiniNation and strengthen its Japanese mobile social network Mobage Town are coming along nicely. DeNA is expected to surpass $1B in revenue this year, having already hit over $570M in 2009. The turf just got rougher and we can see that freemium is here to stay. Ngmoco has placed smart bets on the free-to-play model which helps them see 10x the audience of paid apps. According to Trip Hawkins at the Virtual Goods Summit today, the virtual goods market will grow to over $10B.

We can expect to see Android games emerge and also maybe games on Microsoft’s Windows Phone 7 platform to which EA has already committed 4 games at launch. Congratulations to the Ngmoco team and we hope to see great games soon to come.