Zynga buys Finnish mobile game studio Small Giant for up to $700 million

Robin Wauters

Robin Wauters

Co-founder and editor-in-chief of Tech.eu, with previous stints at The Next Web and TechCrunch under his belt. Deeply in love with his family, technology, traveling and Belgian beer.
robin@tech.eu

It’s not just Rovio and Supercell … Helsinki, Finland-based mobile game studio Small Giant Games, maker of the hit franchise Empires & Puzzles, has just been acquired by American social game developer Zynga in a deal worth up to $700 million.

More specifically, Zynga will acquire 80% of Small Giant for $560 million, comprised of approximately $330 million in cash and $230 million of unregistered Zynga common stock.

Zynga says the final upfront transaction consideration will also include customary closing adjustments and will be partially funded by a newly established $200 million revolving credit facility.

Furthermore, Zynga intends to purchase the remaining 20% of Small Giant Games over the next three years at valuations based on specified profitability goal.

Small Giant Games was funded by the likes of EQT Ventures, Spintop Ventures, PROfounders Capital and Creandum. According to Crunchbase, the startup raised $50.6 million.

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