Today, Turkish mobile gaming company Peak Games officially announced that they sold their shares to Zynga for $1.8 billion.
The company that joined forces with Zynga (Nasdaq: ZNGA) has now entered a new phase. Peak, whose partnership structure has changed with the agreement, will continue its activities under its own brand without any change in its team and management, while remaining as a Turkish company.
“This signature, which has great importance for our country, makes Peak one of the most valuable company in the history of Turkey”
“We are all proud of the point we have reached today for all of Turkey, and we know that this is just the beginning of the journey. In this journey that we will continue with Zynga, to grow stronger excites us about the future. We will continue as a team growing, advancing and developing in Turkey,” said Sidar Şahin, Peak’s founder and CEO.
“The most important aspect of this agreement is that, it shows concretely that the impossible can be achieved. I want parents to believe their children in Turkey. As long as they do determinedly what they love, they should believe in themselves. Children and young people should believe that they can succeed. Because everything starts with believing.”
The acquisition includes about $900 million in cash and about $900 million in stock. The purchase is planned to be completed in the third quarter.
Ömer İnönü, Peak Strategy Director whose worlds also take place in announcement said that, “This signature, which has great importance for our country, makes Peak one of the most valuable company in the history of Turkey. This deal concretely emphasizes that beautiful people can achieve everything when they believe in big dreams together. The architect of the success is our young and exciting team, united around the same goals and values. The real value of this agreement lies right here. ”
They will grow even faster together
Zynga CEO Frank Gibeau also welcomed Peak. “Peak is one of the best puzzle game developers in the world. It makes us excited to carry our capabilities forward with such a creative and passionate team. With the participation of Toon Blast and Toy Blast, we are increasing our number of top-ranked games to eight, while dramatically increasing the number of our global users and preparing for new projects in the future. Peak and Zynga will grow even faster together.”
The acquisition is expected to boost the number of average users playing Zynga’s games daily by more than 60% by expanding its international audience.