Zynga to acquire Toon Blast developer for $1.8bn

Acquisition of Peak Games expected to increase Zynga's global audience by 60%

Zynga has inked a deal worth $1.8 billion to fully acquire Toon Blast developer Peak Games.

Founded in 2010, the 100-person studio boasts two of the top ten and top 20 grossing iPhone games in the US with Toon Blast and Toy Blast.

Collectively the two games have more than 12 million average daily active users, and their addition to the Zynga portfolio will increase its international audience by more than 60%.

"Peak is one of the world's best puzzle game makers and we could not be more excited to add such creative and passionate talent to our company," said Zynga CEO Frank Gibeau.

"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."

Peak founder and CEO Sidar Sahin said the deal is a "monumental partnership" for both companies, and the wider mobile gaming industry. Comprising approximately $900 million in cash and $900 million of Zynga common stock, the deal is expected to close in Q3 2020.

Projects currently under development at Peak are also included in the deal, and will enter the Zynga pipeline.

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