Zynga Acquires Peak In $1.8 Billion Deal
Popular mobile gaming developer Peak, the team behind popular mobile gaming franchises Toon Blast and Toy Blast, will following a recent acquisition deal to the tune of $1.8 billion, be taken over by social games developer Zynga. According to recently released details involving the latest big-names acquisition deal, Zynga will acquire 100% ownership of Peak. The $1.8 billion purchase price will reportedly consist of a $900 million cash payment combined with Zynga stocks to the value of the remaining $900 million. This of course implies that Peak will upon all conditions of sale having been met, own shares in Zynga.
Zynga is reportedly quite excited about the latest deal, saying it considers the latest acquisition capable of adding substantial and pointed scale to its current live services offerings. The deal is according to Zynga also expected to lay the course for future game developments already in the pipeline in terms of initial and early development.
Building On Past Successes
The most recent interaction between Zynga and Peak is of course not the first brushing of commercial shoulders, as Zynga in 2017 acquired Peak’s card games studio in a $100 million big-money sales deal. Zynga’s keen interest in Peak is the result of the former regarding Peak as being one of the world’s leading puzzle makers. This according to Zynga chief in executive charge, Frank Gibeau. To Zynga, said Gibeau at the time of the acquisition announcement, Peak represents the addition of creative and fervid talent in development to the growing Zynga gaming and entertainment family.
Gibeau also made specific reference to Zynga’s new ownership rights to Toy Blast and Toon Blast, and said that the addition of the two new “forever” franchises to Zynga’s existing portfolio of franchises, brings the total of forever franchises now owned and administrated by the social games industry giant to a proud and impressive total of eight.
Driven By A Common Vision
What the two new franchise additions personify and embody for Zynga is a significant and notable increase in terms of the developer’s worldwide audience base. The mission is global expansion and growth, said Gibeau, and a mission all the more enabled and strengthened as a united force.
Peak founder and CEO Sidar Sahin added that in his own opinion, the coming together of Zynga and Peak not only meant supersized success from a commercial perspective, but also in favour of the entire global mobile gaming industry. The common vision, emphasised Sahin, is that of bringing people together through games.