Social games developer Zynga acquires U.S. mobile developer
News on 8 Nov 2017
News on 8 Nov 2017
US social games developer Zynga has announced the $100 million acquisition of fellow US games developer Peak Games, which specialises in popular mobile card games like Spades Plus and Gin Rummy Plus, along with Turkish games such as 101 Okey Plus and Okey Plus.
The acquisition will strengthen Zynga’s casual card game portfolio 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.”
