Zynga to acquire Empires & Puzzles dev Small Giant for initial $560M
Zynga has agreed to purchase Empires & Puzzles developer Small Giant Games.
The company will initially acquire 80 percent of Small Giant for $560 million, comprised of $330 million in cash and $230 in unregistered Zynga common stock.
It will then purchase the remaining 20 percent over the next three years at valuations based on specified profitability goals.
For those unfamiliar with the name, Small Giant is the Helsinki-based mobile studio behind Empires & Puzzles, a match-3 battler that features additional elements like base building and social alliances.
Since being launched 18 months ago, the game has repeatedly broken into the top 10 grossing charts on the App Store on Google Play, and has racked up over 26 million downloads.
Zynga believes Empires & Puzzles has the ability to become a 'forever franchise,' and claims the deal will also allow it to expand its own new game pipeline.
"We've been impressed by the quality and momentum of Empires & Puzzles as we add another Forever Franchise into Zynga's portfolio," said company CEO Frank Gibeau.
"Small Giant has created an innovative game that delivers a unique player experience that engages over the long term. We are excited that Small Giant is joining Zynga as they enhance our next phase of growth."