According to informed sources, social networking game developer Zynga (ZNGA) has completed the acquisition of video game developer Buzz Monkey, the 50-person development team of the latter will be incorporated into Zynga.
The acquisition will be completed by the end of May, both sides did not disclose the transaction price. However, in view of the financial documents submitted by Zynga to the U.S. Securities and Exchange Commission (SEC), the amount for the acquisition is not very huge and does not match the SEC’s requirements.
Zynga’s acquisition of Buzz Monkey does not mean that the former will enter the video game market. The two companies have also collaborated before, such as game Frontierville.
Zynga has completed a lot of similar acquisitions in the past, with the purpose to get more game development elites.
Zynga stock price slipped 4.99%, or $0.30, to report at $5.71 per share on Monday. Zynga stock price has lost 42.90% since its IPO in last December.