The Strategist

Zynga completes purchase of Turkish Peak Games for $ 1.85B

07/06/2020 - 07:25

American Zynga Inc., a developer of popular social networks games, said it had closed a deal to buy all outstanding shares of Turkish Peak Games. It estimated the deal at about $ 1.85 billion.

Joop via flickr
Joop via flickr
The payment was made almost equally by cash and ordinary shares of the company. As a result of the transaction, Zynga received two franchises from Toak Blast and Toy Blast from Peak Games, which have consistently been included in the top 20 iPhone games in the United States over the past two years.

Peak Games will continue to be led by founder and current CEO Sidar Sahin. The company's headquarters will remain in Istanbul.

Together, Toon Blast and Toy Blast have an average of over 12 million mobile daily active users (DAUs). Peak’s acquisition is expected to increase Zynga’s figure by more than 60%, while expanding its international reach.

Zynga plans to update the forecast of financial indicators for 2020 as part of the publication of quarterly reports on August 5, the report said.