Zynga to pay $250 million for Gram Games

In what is being described as his biggest acquisition deal yet, Zynga chief executive Frank Gibeau has sealed a $250 million deal to acquire Gram Games, a successful social games developer that claims its top Merge Dragons and 1010 games have achieved 170 million downloads to date.

The developer employs around 77 people in studios located in London and Istanbul.

Early reports from Zynga predict that the acquisition will add three million daily active users to the Zynga player base, and the business is projected to generate bookings of $10 million and a profit of $2 million for the month of June.

Gibeau, who joined Zynga as CEO two years ago from video-game giant Electronic Arts Inc., has been focusing on core brands, adding tournaments, new features and advertising in a bid to improve the company’s lagging fortunes.

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