CSR Racing and Words with Friends publisher Zynga has acquired Turkish mobile game company Peak for $1.8 billion.
CSR Racing and Words with Friends publisher Zynga has acquired Turkish mobile game company Peak for $1.8 billion. The deal will see Zynga hand over $900 million in cash and another $900 million of Zynga common stock.
Peak is the creator of Toon Blast and Toy Blast, a pair of top-charting mobile franchises that have consistently scaled the iOS top grossing charts over the past two years, amassing a combined 12 million average daily active users in the process.
Zynga views Toy Blast and Toon Blast as two new "forever franchises,' and said they will add "significant scale" to its live service business and help drive margin expansion.
Acquiring Peak will also allow Zynga to expand its international audience, while bolstering the company's new game pipeline with "additional projects" that are in the early stages of development.
"Peak is one of the world’s best puzzle game makers and we could not be more excited to add such creative and passionate talent to our company,” said Zynga chief exec Frank Gibeau in a press release.
"With the addition of Toon Blast and Toy Blast, we are expanding our live services portfolio to eight forever franchises, meaningfully increasing our global audience base and adding to our exciting new game pipeline. As a combined team, we are well positioned to grow faster together."
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