Zynga Inc. (Nasdaq: ZNGA), a world chief in interactive leisure, immediately introduced that it has entered right into a definitive settlement to purchase StarLark, the developer of the world’s second largest cellular golf sport, Golf Rival, from Betta Games , for an quantity of $ 525 million in money and shares. This acquisition brings Zynga a proficient improvement staff with the confirmed skill to create world success and who’ve further initiatives of their early stage of improvement portfolio. StarLark additionally permits Zynga to broaden its worldwide presence by benefiting from a China-based studio with entry to the area’s artistic expertise base.
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Zynga Enters Into Agreement to Acquire Mobile Game Developer StarLark, Team Behind the Hit Franchise, Golf Rival (Graphic: Business Wire)
In Golf Rival, avid gamers of all ability ranges compete in actual time in player-to-player matches and multiplayer tournaments, on spectacular programs with customizable gear. The sport has quickly grown to turn out to be the second largest cellular golf sport in the world, with six million downloads in 2021 alone.
“With the acquisition of Golf Rival, Zynga welcomes a talented team with the proven ability to create global success, while expanding its international presence with a new studio in China, ”mentioned Frank Gibeau, CEO of Zynga. ” Golf Rival shortly grew to become the second largest cellular golf sport in the world, with six million downloads in 2021 alone. Together, Zynga and StarLark are nicely positioned to develop Golf Rival even quicker, with the addition of latest initiatives at an early stage of improvement.
“I am very proud of the StarLark team who have been able to Golf Rival a worldwide success, and we’re thrilled to join Zynga in further accelerating the game’s incredible growth trajectory as a lifelong franchise, ”mentioned Henry You, Founder and CEO of StarLark. “This partnership will present Zynga with higher entry to China’s expertise pool, whereas permitting StarLark to entry Zynga’s world assets and experience. ”
Zynga to purchase StarLark improvement studio and franchise Golf Rival for an quantity of roughly $ 525 million, of which roughly $ 315 million in money and roughly $ 210 million of Zynga widespread inventory (issued at the common closing worth per share throughout the thirty-day buying and selling interval that ended. accomplished August 2, 2021). The closing closing consideration can even embrace customary closing changes, and the transaction is predicted to shut in the fourth quarter of 2021.
Zynga was suggested by White & Case and Fangda Law. Aream & Co. acted as unique monetary advisor and Orrick as authorized advisor to Betta Games in reference to this transaction.
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Zynga is a world chief in interactive leisure whose mission is to join the world by way of video games. With huge world attain in over 175 international locations and areas, Zynga has a various portfolio of widespread sport franchises which were downloaded over 4 billion occasions on cellular, together with CSR Racing, Empires & Puzzles, Hair Challenge, Harry Potter: Puzzles & Spells, High Heels!, Merge Dragons!, Merge Magic!, Queen bee, Toon Blast, Toy Blast, Words With Friends and Zynga Poker. With Chartboost, a number one cellular promoting and monetization platform, Zynga is an industry-leading next-generation platform able to optimizing programmatic promoting and returns at scale. Founded in 2007, Zynga is headquartered in California with websites in North America, Europe and Asia. To discover out extra, discover us on the web site www.zynga.com, observe Zynga on Twitter, Instagram and Facebook, or learn it zynga blog.
This press launch comprises forward-looking statements inside the that means of the Private Securities Litigation Reform Act of 1995, together with statements relating, amongst different issues, to: the proposed acquisition of Beijing StarLark Technology Co., Ltd. (“StarLark”), from the cellular sport franchise Golf Rival and different associated video games, mental property, enterprise information and different specified belongings and liabilities; our skill to obtain the anticipated advantages of the acquisition, together with the development of the cellular franchise Golf Rival, the improvement of future video games, and the attraction and retention of key improvement personnel and different personnel; the buy worth and the deadline of the transaction. Forward-looking statements usually embrace phrases, comparable to “planned”, “expected”, “consider”, “may”, “anticipate”, “believe”, “target”, “expect”, and statements in the future. future are typically predictive in nature. These forward-looking statements will not be ensures of future efficiency, and replicate the present expectations of administration. The achievement or success of the objects lined by these forward-looking statements includes important dangers, uncertainties and assumptions, and our precise outcomes might differ materially from these projected or implied. The reader is urged not to place undue reliance on these forward-looking statements, that are based mostly on the info obtainable to us as of the date hereof. We decline any obligation to replace these forward-looking statements. Factors that will trigger precise outcomes to range embrace: our satisfaction of the closing situations of the transaction and our skill to full the transaction on a well timed foundation; our skill to efficiently combine and procure the anticipated advantages of the transaction; in addition to the dangers of litigation and / or regulatory measures associated to the transaction. Other info relating to these dangers, uncertainties and assumptions, in addition to further elements that might trigger precise outcomes to range, is or can be described in additional element in our public paperwork filed with the Securities and Exchange Commission (the “SEC” ), and copies of which will be obtained by visiting the “Investor Relations” part of our web site at http://investor.zynga.com, or on the SEC web site at www.sec.gov.
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