SAN FRANCISCO, Nov. 07, 2017 (GLOBE NEWSWIRE) -- 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.
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.