Zynga agreed to acquire Turkish mobile game company Peak Games for a whopping $1.8 billion. The update came from Bloomberg.
The parties expect to complete the deal in Q3 2020. Zynga will pay $900 million in cash and another $900 million in Zynga stock (114 million shares priced at $7.92).
Peak Games is the developer behind mobile hits Toon Blast and Toy Blast. According to AppMagic, each of the titles has generated over $600 million in lifetime IAP revenue.
The acquisition is expected to boost the number of average users playing Zynga’s games daily by more than 60% by expanding its international audience,
Zynga Chief Executive Officer Frank Gibeau
Zynga’s previous big acquisition was in 2018 when the company bought the majority stake in Empires & Puzzles developer Small Giant Games for $560 million,