Zynga to buy Turkish mobile-game maker Peak for US$1.8 billion

Zynga to buy Turkish mobile-game maker Peak for US$1.8 billion

Zynga Inc said on Monday it has agreed to buy Turkish mobile-game maker Peak for US$1.8 billion in a cash and stock transaction, in a deal that will help the FarmVille maker boost its daily active user base by 60per cent.

FILE PHOTO: The Zynga logo is pictured at the company's headquarters in San Francisco
FILE PHOTO: The Zynga logo is pictured at the company's headquarters in San Francisco, California April 23, 2014. REUTERS/Robert Galbraith/File Photo

REUTERS: Zynga Inc said on Monday it has agreed to buy Turkish mobile-game maker Peak for US$1.8 billion in a cash and stock transaction, in a deal that will help the FarmVille maker boost its daily active user base by 60per cent.

Shares of the company were up 6.2per cent at US$9.72 in trading before the bell.

The deal, expected to be completed in the third quarter, will comprise US$900 million in cash and US$900 million 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 US$1.84 billion from US$1.80 billion, which excludes any contribution from the Peak deal.

(Reporting by Neha Malara and Munsif Vengattil in Bengaluru; editing by Uttaresh.V)

Source: Reuters

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