Zynga Inc (NASDAQ:ZNGA) reported that it has finalized a deal to buy Peak Games’ mobile card game studio, a major international mobile gaming firm. The deal will strengthen company’s casual card game portfolio with the inclusion of Peak Games’ mobile card games such as Gin Rummy Plus and Spades Plus, and popular local Turkish games such as 101 Okey Plus and Okey Plus. The aggregate consideration for this transaction is $100 million in cash, and the deal is anticipated to close in Q4 2017.
Monty Kerr, the SVP of Games at Zynga, expressed that they are thrilled to welcome the brilliant team behind Peak Games’ portfolio to Zynga. The games they’ve advanced have broad, classic appeal to several people across the globe, and build on Zynga’s robust foundation as they continue to grow their card portfolio over the coming period.
The deal will improve their card based audience and will be adding to near-term margin objectives. Together with the recent growth of Zynga Poker and Solitaire titles, at concluding the addition of mobile card games will provide Zynga the world’s comprehensive range of mobile casual card games.
Peak Games comes in the list of the largest mobile gaming firms active in the United States in terms of reach and gross bookings with hit games including Toy Blast and Toon Blast. The mobile card game studio deal with Zynga will not lead in a change in the shareholding framework of Peak Games, and will enable Peak Games to focus on the growth and enhance its investment of its core casual puzzle games segment.
Omer Inonu, the Strategy Director at Peak Games, expressed that they are delighted of what Peak Games gad achieved in advancing its major card game and mobile board portfolio and are assured that Zynga will be a remarkable platform for those games and the brilliant team behind them in the following stages of their growth.