Gaming giant Zynga bought rival game developer Peak Games for $1.85 billion

Gaming giant Zynga bought rival game developer Peak Games for $1.85 billion

06.07.2020 News

American company Zynga Inc. that creates popular social network games has closed a deal to buy everyone in circulation in the shares of the Turkish Peak Games.
It is reported that the payment was almost equal to the funds and ordinary shares of the company.

As part of the operation, Zynga received two franchises from Peak Games, Toon Blast and Toy Blast, which have consistently been in the top 20 iPhone games in the United States over the past two years.

Peak Games will be run by its founder and current CEO, Sidar Sahin. The company’s headquarters will remain in Istanbul.

Toon Blast and Toy Blast have an average of more than 12 million mobile daily active users (DAU) totally. The acquisition of Peak is expected to increase this figure at Zynga by more than 60% expanding the company’s international audience as well.

The report states that the representatives of Zynga have announced that the company plans to update the forecast of financial indicators for 2020 as part of the quarterly reports publication on August 5.

Zynga stock prices fell by 2.4% on Thursday. Since the beginning of this year, the company’s capitalization has soared more than one and a half times and now exceeds $9.1 billion.

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