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San Francisco-based mobile video gaming giant Zynga said Monday it has entered into a definitive agreement to acquire Istanbul, Turkey-based mobile games firm Peak, which is behind the likes of Toon Blast and Toy Blast, for $1.8 billion in cash and stock.
Peak will bring a 100-person-strong team to the company, adding “significant scale to Zynga’s live services” and becoming an “additional driver of margin expansion over the coming years.” Collectively, Toon Blast and Toy Blast have more than 12 million average mobile daily active users (DAUs), growing Zynga’s average mobile DAUs by more than 60 percent while strengthening its international audience.
Founded in 2010 by Sidar Sahin, Peak “also enhances Zynga’s new game pipeline with additional projects in early development,” the firms said.
“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 CEO Frank Gibeau. “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.”
“This is a monumental partnership not only for Zynga and Peak, but for the whole mobile gaming industry,” said Sahin, CEO of Peak. “Both companies share a common vision — to bring people together through games. Peak’s culture is rooted in relentless learning and progress, so as we embark on this new chapter in our journey together with Zynga, we remain as committed as ever to our unique culture. We’re very excited for our combined future and what we will accomplish together.”
Zynga will acquire Peak for $1.8 billion, comprising approximately $900 million in cash and approximately $900 million of Zynga stock. The transaction is expected to close in the third quarter.
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