You'll have to reference System.Web.Extensions in your .Net 4 project.
1) Open project explorer and click the project. Click "Add Reference".
2) It will open the "Add Refence" window. Click ".NET" tab and find "System.Web.Extensions" and select it. Click the OK button.
3) Now, you should be able to "import" the below namespace.
You can now "serialize and deserialize" JSON by creating JavaScriptSerializer object in your .Net projects.
See this tutorial... How to read JSON file and Convert data into an HTML table in Asp.Net MVC using C# and VB, using "JavaScriptSerializer" class.