Zynga and Peak Games Announce Zynga’s Acquisition of Card Game Studio From Peak Games
November 07 2017 - 4:15PM
Zynga Inc. (Nasdaq:ZNGA), a leading social game developer, today
announced it has entered into an agreement to acquire the mobile
card game studio of Peak Games, a leading global mobile gaming
company.
The acquisition will strengthen Zynga’s casual card game
portfolio with the addition of Peak Games’ successful mobile card
games such as Spades Plus and Gin Rummy Plus, the largest spade and
rummy mobile games in the world, as well as popular local Turkish
games including 101 Okey Plus and Okey Plus. The total
consideration for the acquisition of Peak Games’ mobile card studio
is $100 million in cash, and the transaction is expected to close
in late Q4 2017 subject to customary closing conditions.
“We’re excited to welcome the talented team behind Peak Games’
mobile card game portfolio to Zynga. The social card games they’ve
developed have broad, evergreen appeal to millions of people around
the world, and build on Zynga’s strong foundation as we continue to
grow our card portfolio over the long-term,” said Monty Kerr,
Senior Vice President of Games, Zynga. “The acquisition will
enhance our card based audience and will be accretive to our
near-term margin goals. When combined with the recent growth of our
forever franchise Zynga Poker and our Solitaire titles, at closing
the addition of Peak Games’ mobile card games will give Zynga the
world’s largest portfolio of mobile casual card games.”
Peak Games is one of the largest mobile gaming companies active
in the U.S. in terms of both gross bookings and reach with smash
hit games including Toy Blast, a Top-10 grossing game in the U.S.,
and the recently launched Toon Blast, which is off to a very strong
start. The sale of its mobile card game studio to Zynga will not
result in a change in the shareholding structure of Peak Games, and
will allow Peak Games to enhance its investment and focus on the
growth of its core casual puzzle games business.
“We are proud of what Peak Games has accomplished in growing its
leading mobile board and card game portfolio and are confident that
Zynga will be a great home for those games and the talented team
behind them in the next stages of their growth,” said Omer Inonu,
Strategy Director, Peak Games. “Following this deal, we are very
excited to focus on the continued growth of our core casual puzzle
games business, including Toy Blast and Toon Blast, and introduce
our highly-rated franchises to millions of new players around
world.”
About Zynga Inc. Since its founding in
2007, Zynga’s mission has been to connect the world through games.
To date, more than 1 billion people have played Zynga’s games
across Web and mobile, including FarmVille, Zynga Poker, Words With
Friends, Hit it Rich! Slots and CSR Racing. Zynga’s games are
available on a number of global platforms including Apple iOS,
Google Android, Facebook and Zynga.com. The company is
headquartered in San Francisco, Calif., and has additional offices
in the U.S., Canada, U.K., Ireland, India and Finland. Learn more
about Zynga at http://blog.zynga.com or follow us
on Twitter and Facebook.
About Peak Games Peak Games is a leading mobile
gaming company, committed to developing innovative products with
its driven and talented team. Peak Games focuses on creating
highly-rated mobile games including the top-10 grossing Toy Blast
and the recently launched Toon Blast, which are engaging and
inspiring millions of users around the world. Peak Games aims to
shape the future of mobile gaming and how it intersects with the
everyday lives of users. To learn more about Peak Games, visit our
website at peak.games.
Press Contacts
Zynga, Inc. Kelly Pakula kpakula@zynga.com
Peak GamesGraham
BuckGraham.Buck@finsbury.com
Forward Looking Statement
This press release contains forward-looking statements by Zynga
regarding Zynga’s acquisition of the mobile card game studio of
Peak Games, including those statements relating to, among other
things, that the acquisition will strengthen Zynga’s casual card
game portfolio, the expectation that the transaction will close in
late Q4 2017, that Zynga will continue to grow its card portfolio
over the long-term, that the acquisition will enhance Zynga’s card
based audience and will be accretive to Zynga’s near-term margin
goals, and that at closing the addition of Peak Games’ mobile card
games will give Zynga the world’s largest portfolio of mobile
casual card games. Forward-looking statements often include
words such as "outlook," "projected," "intends," "will,"
"anticipate," "believe," "target," "expect," and statements in the
future tense are generally forward-looking. The achievement or
success of the matters covered by such forward-looking statements
involves significant risks, uncertainties, and assumptions. Undue
reliance should not be placed on such forward-looking statements,
which are based on information available to Zynga on the date
hereof. Zynga assumes no obligation to update such
statements. More information about these risks,
uncertainties, and assumptions are or will be described in greater
detail in Zynga’s public filings with the Securities and Exchange
Commission (the "SEC"), copies of which may be obtained by visiting
Zynga’s Investor Relations web site at http://investor.zynga.com or
the SEC's web site at www.sec.gov.
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