Zynga to buy Peak Games for $1.8B

[h4l0]

https://www.businessinsider.com/zynga-acquires-peak-gaming-1-8-billion-2020-6

[continuations]

I'm not familiar with casual gaming. How is Zynga doing these days?

I remember them from the Farmville days when Facebook billed itself as an "application platform" and Farmville was the poster child of that.

Facebook hasn't talked about "application platform" for years now and I don't know anyone still playing games on Facebook. So how is Zynga still a thing?

[bdcravens → continuations]

They transitioned their games to mobile.

Ignoring today's jump due to the acquisition news, their stock has been pretty strong over the last year. I think they moved past the world domination phase of the company to be a solid game studio.

[jacknews]

"Both companies share a common vision — to bring people together through games."

sure

[toyg → jacknews]

Well, it doesn't say where they bring people - in a dark alley shooting addictive substances up their veins.

[SheinhardtWigCo → jacknews]

“To make a shitload of money” doesn’t quite have the same ring.

[yalogin]

Wow completely forgot that zynga exists. They have that kind of money still?

[bekman → yalogin]

Last year they did $1.2 billion and have been profitable the last couple of years.

[shultays → yalogin]

https://www.statista.com/statistics/273567/zyngas-annual-rev...

They are making 20% of Blizzard's revenues. By creating mobile games.

[FanaHOVA → yalogin]

$9B market cap

[AdmiralAsshat]

In other news, Zynga apparently has $1.8B to blow.

[bdcravens → AdmiralAsshat]

No, only $900M

> Zynga stated that the deal comprised $900 million in cash, and $900 million in Zynga stock

[AdmiralAsshat → bdcravens]

That's still $800m more than I figured Zynga had at this point.

[pixxel]

> US casual gaming giant Zynga is buying Turkish mobile game developer Peak for $1.8 billion, the company confirmed Monday.

“casual gaming giant”—I did actually lol at that description of Zynga.

[tmpz22]

I suggest everyone downloads words with friends 2, video ads between every move. I would avoid their brand like the plague.

[mrtksn → tmpz22]

Don't they offer to remove ads or something like that?

[shultays]

I thought Zynga already bought Peak Games. Was that something else?

[ismailunal → shultays]

I think it was kind of some department of it. not all of it.

[tehlike → shultays]

Zynga bought gramgames few years ago, also from turkey.