KUALA LUMPUR, Oct 5 -- Zynga Inc has acquired 80 per cent of mobile games developer and publisher, Rollic for a total purchase price, including working capital adjustments of approximately US$180 million in cash. (US$1 = RM4.157)
According to a statement, over the next three years, the global leader in interactive entertainment will acquire the remaining 20 per cent in equal installments at valuations based on specific topline and profitability goals.
Rollic will continue to be led by founder and Chief Executive Officer, Burak Vardal and its current management team. Additionally, the company plans to maintain its headquarters in Istanbul, Turkey.
The Rollic acquisition marks Zynga’s entrance into the fast-growing hyper-casual market, bringing a highly talented team with a substantial network of external developers to Zynga.
Rollic also meaningfully increases Zynga’s audience while growing its advertising business.
The close of this acquisition is effective as of Oct 1. Zynga expects to update its full year 2020 guidance when reporting Q3 2020 financial results.
-- BERNAMA
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