Zynga has agreed to acquire the Helsinki-based mobile game maker Small Giant Games, the creator of the hit title Empires & Puzzles.
Zynga will pay $560 million in cash and stock for 80 percent of the company, and the rest will come later.
That was preceded by Zynga’s 2017 purchase of assets, including a casual game studio Peak Games, another Istanbul-based game studio, for $100 million.
To put the purchase price in perspective, the amount is larger than the $494 million valuation of Cloud Imperium, which is making the Star Citizen and Squadron 42 games, which hold the record for the highest crowd-funded games in history.
That’s a remarkable result for the first game from Small Giant Games, which Timo Soininen cofounded in 2013.
“Our studio was founded on the idea that small, skillful teams can accomplish giant things, and I am confident that partnering with Zynga is the right next step in our evolution,” said Soininen in a statement.