Zynga Closes Transformational Acquisition of Istanbul-based Peak; Expands Forever Franchise Portfolio with Toon Blast and Toy Blast
Zynga Inc. and Peak, Istanbul-based creator of Toon Blast and Toy Blast, announced today that the companies have closed the transaction under which Zynga acquired all of the issued and outstanding common shares of Peak for a total purchase price of approximately $1.85 billion comprised approximately of equal contributions of cash and Zynga common stock.
Peak brings to Zynga a renowned, talented team and two forever franchises, Toon Blast and Toy Blast, that have consistently ranked within the top 10 and top 20 U.S. iPhone grossing games for the past two years, respectively.
Peak will continue to be led by founder and Chief Executive Officer Sidar Sahin and its current management team. Additionally, the company plans to maintain its headquarters in Istanbul, Turkey.
“We are delighted to welcome Sidar and Peak’s extraordinarily talented team to Zynga,” said Frank Gibeau, Chief Executive Officer of Zynga. “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. As a combined team, we are well positioned to grow faster together.”
“We are very happy to finalize this monumental partnership that will affect not only Zynga and Peak, but the whole mobile gaming industry” said Sidar Sahin, founder and Chief Executive Officer of Peak. “At the heart of this partnership lies a common vision -- to bring people together through games. Peak’s culture is rooted in relentless learning and progress, so as we embark on this new chapter in our journey together with Zynga, we remain as committed as ever to our unique culture. We’re very excited for our combined future and what we will accomplish together.”
Founded in 2010 by Sidar Sahin, Peak has developed the beloved game franchises Toon Blast and Toy Blast. Known for their innovation, creativity and exquisite design, Toon Blast and Toy Blast popularized the ‘collapse’ mechanic within match-3 puzzle games, and have captured a highly engaged global audience base that ranks among the industry's best in player retention. Collectively, Toon Blast and Toy Blast have more than 12 million average mobile DAUs. Peak is expected to grow Zynga’s average mobile DAUs by more than 60% while strengthening Zynga’s international audience. Peak also enhances Zynga’s new game pipeline with additional projects in early development.
The close of this acquisition is effective as of July 1, 2020. Zynga expects to update its full year 2020 guidance when reporting Q2 2020 financial results on August 5, 2020.