June 1 (SeeNews) - US-based video game software developer Zynga Inc said on Monday it has entered into a definitive agreement to buy Turkish mobile gaming company Peak in a cash-and-stock deal worth $1.8 billion (1.6 billion euro).
Half of the purchase sum will be paid in cash, while the other half will be paid in Zynga shares issued at the volume-weighted average closing price per share over the thirty-day trading period ended May 29, the buyer said in a statement.
You can subscribe to our M&A newsletter here
The transaction is expected to close in the third quarter of 2020.
Peak is expected to grow Zynga’s average mobile daily active users (DAUs) by more than 60%, as well as increase Zynga’s international audience, according to the statement.
Established in 2010, Peak is known for its two Forever franchises Toon Blast and Toy Blast, which collectively have more than 12 million average mobile DAUs.
These franchises add significant scale to Zynga’s live services and will be an additional driver of margin expansion over the coming years.
($ = 0.8995 euro)