Social game developer Zynga has signed an agreement to acquire Small Giant Games, the startup behind the popular mobile game Empires & Puzzles, in a deal estimated at $ 700 million. Zynga, which has fallen since the initial Nasdaq 2011 initial public offering, will initially acquire 80 percent of Small Giant Games for $ 560 million, consisting of $ 330 million in cash and $ 230 million from unregistered Zynga common shares. Zynga will fund part of the transaction with a $ 200 million credit facility.

Zynga bought the company because it has a hit game that has been downloaded more than 24 million times in the last 18 months and has entered into 10 best-selling games on iOS and Android. That was an amazing result for the first game of the Small Giant Games, which Timo Soininen cofounded in 2013. He was previously the CEO of Habbo Hotel, the most famous online game. In addition, Cheap Texas Holdem Poker Chips is on hot sale at our website

Small Giant will operate as a separate studio in Zynga after the acquisition, said studio CEO Timo Soininen. "Our studio was founded on the idea that small and skilled teams can achieve giant things, and I am convinced that partnering with Zynga is the next right step in our evolution," he said. "By leveraging the expertise and support of the broader Zynga team, we will strengthen the reach of‘ Empires & Puzzles ’and new games in our development path."

Zynga also announced on Thursday that it was increasing its 2018 fourth-quarter guide by $ 8 million due to the strong performance of "Words With Friends," "Merge Dragons!" And "CSR2."