Zynga Inc. (Nasdaq: ZNGA), an interactive entertainment global leader, is to acquire Peak, an Istanbul, Turkey-based mobile gaming company.
Zynga will acquire 100% of Peak for $1.8 billion, comprised of approximately $900 million in cash and approximately $900 million of Zynga common stock (issued at the volume-weighted average closing price per share over the thirty-day trading period ended May 29, 2020). The final upfront transaction consideration will also include customary closing adjustments, and the transaction is expected to close in the third quarter of 2020.
Founded in 2010 by Sidar Sahin, Peak has developed game franchises Toon Blast and Toy Blast, which collectively have more than 12 million average mobile DAUs and have consistently ranked in the top 10 and top 20 U.S. iPhone grossing games for over two years, respectively. These franchises add scale to Zynga’s live services and will be an additional driver of margin expansion over the coming years. Peak also enhances Zynga’s new game pipeline with additional projects in early development.
Founded in 2007 and led by Frank Gibeau, Chief Executive Officer, Zynga is a games developer whose franchises include CSR RacingTM, Empires & PuzzlesTM, Merge Dragons!TM, Merge Magic!TM, Words With FriendsTM and Zynga PokerTM. Games are available in more than 150 countries and are playable across social platforms and mobile devices worldwide. The company is headquartered in San Francisco with locations in the U.S., Canada, U.K., Ireland, India, Turkey and Finland.
FinSMEs
02/06/2020