Zynga to buy Turkish mobile-game maker Peak for $1.8 billion

The corporate logo of Zynga Inc, the social network game development company, is shown at its headquarters in San Francisco, California April 26, 2012. REUTERS/Robert Galbraith (UNITED STATES – Tags: SCIENCE TECHNOLOGY BUSINESS)

(Reuters) – Zynga Inc (ZNGA.O) said on Monday it has agreed to buy Turkish mobile-game maker Peak for $1.8 billion in a cash and stock transaction, in a deal that will help the FarmVille maker boost its daily active user base by 60%.

Shares of the company were up 6.2% at $9.72 in trading before the bell.

The deal, expected to be completed in the third quarter, will comprise $900 million in cash and $900 million in stock, Zynga said.

The company has been strengthening its hold on the mobile gaming market through acquisitions and licensing agreements with media outlets to publish themed games of popular franchises.

Zynga also raised its full-year bookings forecast to $1.84 billion from $1.80 billion, which excludes any contribution from the Peak deal.

Reporting by Neha Malara and Munsif Vengattil in Bengaluru; editing by Uttaresh.V


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