KUALA LUMPUR (BERNAMA) – Zynga Inc, a leader in interactive entertainment closed the transformational acquisition of Istanbul-based Peak, the creator of Toon Blast and Toy Blast.
Zynga acquired issued and outstanding common shares of Peak for a total purchase price of approximately USD1.85 billion comprising approximately equal contributions of cash and Zynga common stock.
Zynga Chief Executive Officer Frank Gibeau said, “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.”
According to a statement, the close of this acquisition is effective July 1. Zynga expects to update its full year 2020 guidance when reporting Q2 2020 financial results on August 5.
Peak will continue to be led by founder and CEO Sidar Sahin and its current management team. The company also plans to maintain its headquarters in Istanbul, Turkey.
Peak brings to Zynga a renowned, talented team and two forever franchises, Toon Blast and Toy Blast, that consistently ranked within the top 10 and top 20, United States iPhone grossing games for the past two years.