The New York Times confirms rumors that started last week that iPhone game company ngmoco was on the verge of acquisition. Japanese company DeNA will indeed be acquiring iOS game developer ngmoco:

DeNA, the Japanese social gaming giant, said Tuesday that it would acquire Ngmoco, a Silicon Valley iPhone game developer, for $400 million � one of the largest deals ever involving an iPhone application developer and another sign that the iPhone is fast becoming the hottest gaming device on the market.

Ngmoco had previously received about $40 million in funding throughout its existence. The acquisition was approved by DeNA's board and is expected to officially close in the next couple of weeks.

DeNA founder Tomoko Namba cites "social gaming" as the big tide in gaming and is seeking to expand into the western market with the acquisition.

Ngmoco was founded in 2008 just as the App Store launched. We first reported on the company's founding back in July, 2008. Ngmoco was responsible for some of our favorite early iOS titles including Rolando, Dropship, WordFu and more. Recently, however, they've transitioned into freemium/social gaming with titles like We Farm, We City, and Touch Pets Dogs.