Quepasa Corporation, creator and operator of Quepasa.com, the popular online social network and game platform for the Latino community, has completed its acquisition of XtFt Games S/S Ltda, the owner of substantially all the assets of TechFront Desenvolvimento de Software S/S Ltda, a social game development studio based in Curitiba, Brazil, announced Quepasa Wednesday.

TechFront began its operations as a developer of multiplatform console, Web and mobile games, but later began developing social games for Google’s Orkut platform in 2010 in partnership with various international publishers, including U.S.-based eGames.

As part of Quepasa and operating under the name ‘Quepasa Games,’ XtFt/TechFront will focus on developing culturally relevant social gaming IP for the Quepasa platform, as well as for distribution to other social networks with audiences in Latin America.

As both a publisher of social games and a platform for playing them, Quepasa can more effectively capitalize on the rapid growth of social games throughout Latin America and on a much larger scale, said a press release.

Quepasa CEO, John C. Abbott, noted that the addition of TechFront’s talented team of developers provides Quepasa with the powerful means to offer and monetize culturally relevant social games for Quepasa.com and other social networks like Orkut and Facebook, and eventually to mobile users across Latin America. According to Abbott, the firm may be launching its first four social game titles between now and May of this year.

Rafael da Costa, an XtFt partner and TechFront’s founder and president, said joining forces with Quepasa gives the firm an immediate presence on one of the largest and fastest growing audiences in Latin America. The addition of innovative social media marketing tools like Quepasa DSM, which is also being marketed by Sony Pictures and GrupoExpansión across the region, will help promote the firm’s titles and stimulate user engagement.

Quepasa acquired XtFt for $4 million, comprised of $3.7 million in shares of Quepasa common stock and a $300,000 brokerage fee. XtFt also received performance incentives to earn an additional250, 000 shares of Quepasa common stock at certain Quepasa Games-related revenue targets.

Quepasa’s expanding social gaming presence in Latin American is supported by strengthening user trends in the region.

XtFt Games is the owner of substantially all of the assets of TechFront Desenvolvimento de Software S/S Ltda (TechFront). TechFront is Brazil’s largest game development studio for all modern game platforms, with a focus on fun, high-quality, easy-to-play titles.