Shares of Zynga Inc. (NASDAQ: ZNGA) rose 6.31% at $10.78 at last check-in premarket trading. At the close of last session, Zynga stock was $10.14, down -0.49% or -$0.05.
ZNGA stock price fluctuated between the ranges of $10.06 to $10.47 during the last trading session. An acquisition deal has contributed to the rise in ZNGA stock.
ZNGA is acquiring what?
With a mission to connect the world through games, Zynga is a global leader in the interactive entertainment industry. Over one billion people have used ZNGA’s franchises including Zynga Poker, Zynga Board Game, Empires and Puzzles , Merge Dragons!, Merge Magic!, Toon Blast , Sports Manager ,and Words With Friends.
More than 150 countries have access to ZNGA games. These games are available across social media and mobile platforms worldwide. ZNGA, which was founded in 2007, has its headquarters in San Francisco, with offices in the United States, Canada, the United Kingdom, Ireland, India, Turkey and Finland.
In yesterday’s announcement, Zynga announced that it has reached a definitive agreement to acquire Chartboost, a leading programmatic advertising and monetization platform for mobile devices.
Chartboost brings thousands of talented staffers and 700 million monthly users as well as 90 billion monthly advertising auctions to the table. ZNGA and Chartboost will leverage the advantages of each company’s offerings to form a comprehensive next-generation platform.
In what way will ZNGA benefit?
Zynga (ZNGA) aims to deliver high-quality content, establish direct relationships with players, reach a massive audience, and seamlessly integrate charts across its game portfolio and the deal to acquire Chartboost has all these features available for ZNGA with its through its advertising network.