Zynga buys the Turkish game developer Peak for $ 1.8 billion

[dBSPL]

According to many sources, sales negotiations between Peak and Zynga , which has been in due diligence process for approximately 1 month, expected to be announced very soon.

As you may remember, Zynga bought some of Peak's games for $ 100 million in 2017, then bought Turkish game company Gram Games for $ 250 million in 2018. And this year, negotiations with Peak Games continued at different levels. Some sources were thought that this purchase would only include Peak's mobile game catalog.

According to the special news of Arda Kutsal from Webrazzi*, the agreement was completed and the sale of the company became definite. Peak is a joint stock company(Inc.) established in Turkey and they will continue its way as a joint stock company after bought by Zynga. So studios in Turkey will continue to work in Turkey.

If the company sold at $ 1.8 billion, Earlybird will have the biggest share of this sale. The European-based fund will take more than 43% of the purchase price, that is about 780 million dollars. Sidar Şahin, co-founder and CEO of the company, will receive 384 million dollars, and Hummingbird Ventures, one of the first investors, will receive approximately 362 million dollars. Trendyol founders Demet Mutlu and Evren Üçok will have a return of 86 million dollars and 139 million dollars, a total of 225 million dollars. Finally, Endeavor's Catalyst fund will generate $ 47 million in revenue.

sources: https://webrazzi.com/2020/05/30/peak-zynga-satis/
https://www.milliyet.com.tr/ekonomi/abdli-devden-turk-oyununa-milyar-dolar-6220362

The Turkish gaming industry continues to prove its quality on both mobile and desktop platforms. Sidar Şahin and his team have done a great job until today and no doubt they will accomplish much more.

 

[Kamil_baku]

they will purhase it so nobody else an deelop games..

 

[Balamir]

The companies whose games are held are sold one by one Zynga had previously purchased Gram Games. Also, Masomo, the company that developed the game called Head Ball, was sold to Chinese Miniclip. However, there is an important point here. Turkish Airlines is Turkey's most valuable company with $ 1.7 billion. Peak Only $ 1.8 billion of finding a buyer could be of great value software showed companies from Turkey. I don't like this news very much, but if you look at it from the good side, the company can develop further and make bigger games globally.

 

[Saithan]

Depends on how much they're earning annually. The gaming industry isn't retracting it's growing, so if you look at Swedish Candy Crush, those guys keep the company and are raking in the money.

 

[Pan-Islamic-Pakistan]

They have two released mobile games, Toy Blast and Toon Blast, and they are working on a third.

https://peak.com/products

I hope this helps the studio expand so we get more diversity in the gaming industry.

 

[Deliorman]

Instead of developing and expanding you sell yourself to a bigger fish that only buys you for more market share and taking a competitor out of their way.

With such a mentality (to sell on the first good offer you find instead trying to expand more and more) Turkey will never have a Global corporation that makes tens of billions a year like Samsung, VW, Siemens, Apple etc... It’s those companies that show where you have a really powerful economy that is important on the world map.

 

[bsruzm]

Sidar Şahin, co-founder and CEO of the company, will receive 384 million dollars,

That is convincing lol, he better continues.

 

[Saddam Hussein]

Instead of developing and expanding you sell yourself to a bigger fish that only buys you for more market share and taking a competitor out of their way.

With such a mentality (to sell on the first good offer you find instead trying to expand more and more) Turkey will never have a Global corporation that makes tens of billions a year like Samsung, VW, Siemens, Apple etc... It’s those companies that show where you have a really powerful economy that is important on the world map.

There's risks that the company will go to shit under the current environment and maybe he knows this possible risk outweighs the things you mention.

That's all it comes down to; risk. Do you think he doesn't want to see his company grow 10 if not 100 fold and make it to the top 5 game developers in the world. But what about the risks, he might miss his exit window.

 

[AUz]

Great news. Hopefully Turkish gaming, IT, software sector continues to grow and mature.

 

[Saithan]

There's risks that the company will go to shit under the current environment and maybe he knows this possible risk outweighs the things you mention.

That's all it comes down to; risk. Do you think he doesn't want to see his company grow 10 if not 100 fold and make it to the top 5 game developers in the world. But what about the risks, he might miss his exit window.

That’s why ppl hire CEO with better management skills. If Bill Gates sold off MS, you think they’d be where they are now ?

 

[Nein]

Honestly man forget these gay *** mobile games.

When am I going to witness a Turkish made battlefield or a Turkish made soldier of fortune???

Not just a clone but better in every way possible?? Get the Cry engine or the unreal engine and make it possible.

 

[Pan-Islamic-Pakistan]

Honestly man forget these gay *** mobile games.

When am I going to witness a Turkish made battlefield or a Turkish made soldier of fortune???

Not just a clone but better in every way possible?? Get the Cry engine or the unreal engine and make it possible.

TaleWords is also from Turkey, they made the Mount & Blade series, which is a massive success internationally, including the US.

Do you brothers play it? Is it popular in Turkey?

I used to play Age of Empires 3 in undergrad with friends, there were many Turkish players in that game (all playing Ottomans, lol.)

 

[Nein]

TaleWords is also from Turkey, they made the Mount & Blade series, which is a massive success internationally, including the US.

Do you brothers play it? Is it popular in Turkey?

I used to play Age of Empires 3 in undergrad with friends, there were many Turkish players in that game (all playing Ottomans, lol.)

Mount and Blade is good I mean really good. That is a good start for Turkish gaming industry.

I wish crysis was Turkish but still makes me proud that Germans of Turkish heritage made the most beautiful game of all time. Honestly cant wait for the Remaster thats is coming out in PS4.

 

[Pan-Islamic-Pakistan]

Mount and Blade is good I mean really good. That is a good start for Turkish gaming industry.

I wish crysis was Turkish but still makes me proud that Germans of Turkish heritage made the most beautiful game of all time. Honestly cant wait for the Remaster thats is coming out in PS4.

Crysis was once known as the most advanced graphically of all PC games. I remember that was not too long ago.

Me personally I am an old-school gamer, I prefer older style games (mostly Nintendo, RPGs, and Strategy.) Helps that most are family friendly too.

I got tired from FPS after Xbox 360, I only bought Nintendo consoles since then and built a PC.

I follow this forum for gaming news, it is the most reputable in the industry.

https://www.resetera.com/forums/gaming-forum.7/

 

[Constantinople]

I'm against this , why Peak will sold the company instead of developing it. Yes, it is easy to talk but when you see the money everything will change, here I think the role of the government should come, they should support online game industries and prepare the infrastructure for them to evolve. So peak will now close it's office in Turkey ? or what the deal is about ?