Update: Zynga has now closed its acquisition of Peak Games for a total purchase price of around $1.85 billion, comprised of approximately equal parts cash and Zynga common stock.
The deal closed on July 1st 2020. As a result of the purchase, Zynga expects to update its full year guidance when reporting its Q2 2020 financials on August 5th 2020.
Approximately $900 million will be given in cash while the other $900 million will be given as Zynga common stock shares. The deal is expected to close in the third quarter of 2020.
The Istanbul-based studio has created hit game franchises such as Toon Blast and Toy Blast, with a focus on the match-3 genre. The two games will expand Zynga's "forever franchise" total to eight, and is believed to increase the number of daily users the company sees by 60 per cent. Peak will maintain its unique culture and continue to hold its brand identity.
"This is a monumental partnership not only for Zynga and Peak but for the whole mobile gaming industry," said Peak CEO and founder Sidar Sahin.
"Both companies share a common vision – to bring people together through games. Peak's culture is rooted in relentless learning and progress, so as we embark on this new chapter in our journey together with Zynga, we remain as committed as ever to our unique culture. We're very excited for our combined future and what we will accomplish together."
Bagging the best
"We are honoured to welcome Sidar and team to Zynga. Peak is one of the world's best puzzle game makers, and we could not be more excited to add such creative and passionate talent to our company," said Zynga CEO Frank Gibeau.
"With the addition of Toon Blast and Toy Blast, we are expanding our live services portfolio to eight forever franchises, meaningfully increasing our global audience base and adding to our exciting new game pipeline. As a combined team, we are well-positioned to grow faster together."
Last December, the American company expanded NaturalMotion with a new studio in Birmingham. Recently, we caught up with Zynga COO Matt Bromberg to see how the company has handled the COVID-19 outbreak.