Zynga, the social gaming giant known for popular social media game Farmville, has finalized its $180 million acquisition of a majority stake in Rollic, a Turkish games developer.
According to the developer, it closed the deal to acquire 80% of Rollic for a total purchase price, plus working capital adjustments, of around $180 million in cash.
Zynga will be acquiring the remaining 20% of Rollic over the next three years. The developer’s games have been downloaded more then 365 million times in less than two years. The acquisition will be done in equal installments at valuations based on specific topline and profitability goals.
The acquisition was signed on October 1, and Zynga will be updating its full 2020 guidance, when it reports third quarter financial results. The deal was first revealed in August.
As for games developer Rollic, it will remain headquartered in Istanbul and will continue to be managed by its current management team and founder and chief executive officer Burak Vardal.
According to Zynga, the deal marks its entry into the growing hyper-casual market. With the addition of Rollic’s team, the social gaming giant said it will strengthen its development team and resources.
“We’re thrilled to Welcome Rollic and its incredibly talented team, along with its extensive network of developers, to Zynga,” Frank Gibeau, Zynga chief executive, said.
“Rollic brings Zynga into the world of hyper-casual, which is one of the most exciting and fastest growing mobile gaming categories. Rollic’s large and diversified audience base will also be valuable for Zynga as the mobile games and advertising landscape continues to grow,” he added.