Peak had raised only about $18 million in VC funding from the likes of Earlybird, Hummingbird Ventures and Endeavor Catalyst, so there’s some people making a killing off this deal. As Webrazzi pointed out in an article published earlier today, it is also by far the biggest deal for a Turkish scale-up to date.
The deal is in part cash, part stock, split evenly across the total transaction size. Zynga had earlier purchased Peak’s casual card business for $100 million in 2017, so there’s an existing relationship.
The transaction is expected to close in Q3 2020.
In a statement on its website confirming the acquisition, Peak claims it has built itself up into one of the largest companies in the global mobile gaming industry in the course of a decade, with its puzzle games Toon Blast and Toy Blast “played daily by millions of people in 193 countries”.
It currently employs around 100 people, which will all be joining Zynga.
Back in December 2018, Zynga also agreed to acquire Finland-based mobile game studio Small Giant Games in a deal worth up to $700 million.