The Buckingham

Photo Credit: gree-corp.com

Japanese mobile game company, Gree International Inc. announced on Tuesday it had purchased San Francisco-based mobile game developer Funzio Inc. for $120 million. The is Gree’s second major purchase of a U.S. company. Gree bought OpenFeint last year for $104 million.

Gee and Japanese competitor, DeNA Co. both speculate the U.S. market will mirror the surge in Japan’s mobile games industry and develop into a multibillion-dollar business.

With its purchase of Funzio Inc., Gree International Inc. now owns the studio that created Modern War, Crime City and Kingdom Age. All three were among iTunes’ top 25 grossing apps as of Tuesday.

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