U.S. mobile game maker Zynga will acquire Istanbul-based gaming company Peak for $1.8 billion, the company said on June 1, in a deal that would mark the largest purchase of a Turkish startup.
The purchase includes about $900 million in cash and about $900 million in stock.
It would boost Zynga’s number of daily active users by more than 60 percent and was expected to close in the third quarter, Zynga said in a statement.
Peak, which was founded 10 years ago, will continue operating in Istanbul with a 100-strong team. The average age of the company’s staff members is 29.
“It excites us for the future to plan to grow with more strength in journey with Zynga. We will continue as a team growing, advancing and developing in Turkey,” said Sidar Şahin, Peak’s founder and CEO.
“The deal puts Peak among the most valuable companies in Turkey’s history,” said Ömer İnönü, Peak’s strategic director.
“The agreement is an indication of trust in Peak’s team, what it has done and what it will do, as well as a sign of Peak’s potential,” he added.
Zynga CEO Frank Gibeau also welcomed the deal.
“Peak is one of the best puzzle game developers in the world. It makes us excited to carry our capabilities forward with such a creative and passionate team,” he said.
Peak’s signature games, Toy Blast and Toon Blast, are among the most popular in the United States.