Tue, Jul 05, 2011 | 18:08 BST
Zynga IPO states it paid $53.3 million for Newtoy back in December
It looks like Zynga paid a hefty price for for social game developer Newtoy back in December 2010. According to the firm’s IPO, tt paid $53.3 million for the firm.
Zynga’s recent public offering filing revealed that it paid $44.3 million in cash and $8.9 million in stock for the firm founded in May 2009 by ex-Ensemble Studios vets Paul and David Bettner.
The social gaming juggernaut has purchased 12 companies since 2010 for a grand total of $123 million.
“Words with Friends is one of the leading social game franchises on mobile platforms,” the filing states regarding the purchase of Newtoy. “We believe there is a large opportunity to extend our brand and games to mobile platforms such as Apple iOS and Google Android.
“We expect to devote substantial resources to the development of our mobile games, and our limited experience makes it difficult to know whether we will succeed in developing such games that appeal to paying players or advertisers.”