Zynga stock popped on the company’s announcement that it snapped up game maker ‘OMGPOP,’ snagging its hit new game ‘Draw Something.’
This is part of the social game maker’s strategy to diversify away from its reliance on Facebook.
The company did not disclose any financial terms of the deal and wouldn’t comment on whether the acquisition will be accretive. Zynga has a secondary offering on file with the SEC, so it’s in a quiet period. But CNBC’s Kayla Tausche reportsthat Zynga is paying about $200 million.
OMGPOP emerged as a hot takeover target as its Draw Something game took off in the past six weeks since it launched.