Zynga Buys Mobile Gaming Company Peak For $1.8 Billion
The company that creates popular mobile games such as Toy Blast and Toon Blast, Peak, has been purchased for $1.8 billion to be exact, by Zynga. The purchase of the Peak is the largest in Zynga’s history.
Zynga bought Peak’s card game studio in 2017 for $100 million. This purchase will be paid $900 million in cash and $900 million in stock, according to a press release from Zynga.
Since its 2011 IPO, Zynga has had numerous ups and downs, but this purchase appears to be a sign of things going in the right direction for the company.
Peak has around 12 million active daily users, which has some executives projecting that Zynga will be able to expand significantly outside the United States.
Peak’s founder Sidar Sahin issued a statement on the company’s website, declaring how proud he is of his employees since the company was founded over a decade ago. “Ten years ago, we set out on an amazing journey to make our dreams come true,” he said. “Touching millions of peoples’ lives with our technology was just one of those dreams. Today we are one of the largest companies in the global mobile gaming industry. Our games are played daily by millions of people in 193 countries.”
The purchase of Peak adds to the list of acquisitions by Zynga in recent years, including Small Giant Games, Gram Games and NaturalMotion for a combined $1.337 billion.