Investing

Zynga Deal for OMGPOP Near Certain (ZNGA, AAPL, GOOG)

Zynga
Social gaming company Zynga Inc. (NASDAQ: ZNGA), which became a publicly traded company in December, has made a deal to acquire social gaming start-up, OMGPOP, maker of the popular ‘Draw Something’ game. The game is available for both iPhones from Apple Inc. (NASDAQ: AAPL) and phones running the Android operating system from Google Inc. (NASDAQ: GOOG).

The AllThingsDigital blog reports a sale price of $180 million plus a retention bonus pool of $30 million. There is no word on the cash/stock breakdown.

‘Draw Something’ is the top app in both sales and free downloads at Apple’s iTunes store, and the game currently rakes in about $250,000 daily after Apple takes its 30% cut of revenue.

Zynga’s shares are up more than 6% on the rumor, at $14.23 in a post-IPO range of $7.97-$15.91.

Get Ready To Retire (Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Get started right here.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.