Zynga to Buy Turkish Mobile-Game Maker Peak for $1.8 Billion

Gaming

Zynga said on Monday it has agreed to buy Turkish mobile-game maker Peak for $1.8 billion (roughly Rs. 13,553 crores) in a cash and stock transaction, in a deal that will help the FarmVille maker boost its daily active user base by 60 percent. Shares of the company were up 6.2 percent at $9.72 (roughly Rs. 730) in trading before the bell.

The deal, expected to be completed in the third quarter, will comprise $900 million (roughly Rs. 6,776 crores) in cash and $900 million (roughly Rs. 6,776 crores) in stock, Zynga said.

The company has been strengthening its hold on the mobile gaming market through acquisitions and licensing agreements with media outlets to publish themed games of popular franchises.

Zynga also raised its full-year bookings forecast to $1.84 billion (roughly Rs. 13,854 crores) from $1.80 billion (roughly Rs. 13,553), which excludes any contribution from the Peak deal.

© Thomson Reuters 2020

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