вЂњWe share ZyngaвЂ™s vision that cross-platform play is an essential part of the future of RPGs and interactive entertainment and are eager to apply our vast experience and talents to this effort.вЂќZynga acquires TurkeyвЂ™s Peak Games for $1.8B, after buying its card games studio for $100M in 2017Gaming has been one of the bright spots in the last year вЂ” no surprise, since people are spending so much more time indoors and at home because of the pandemic. вЂњThis acquisition will be instrumental in growing our iconic licenses and brands from mobile to PCs and consoles, while helping to further expand ZyngaвЂ™s total addressable market.вЂќвЂњEchtra Games is delighted to be joining the Zynga family,вЂќ added Max Schaefer. IвЂ™m excited to welcome the Echtra Games team into the Zynga family,вЂќ said Frank Gibeau, chief executive officer of Zynga, in a statement. Runic was shuttered by its owner, Perfect World, and so in 2016, Schaefer went on to form a new company, Echtra, with some of his Runic colleagues and others in the industry because he saw more life left in the franchise.The plan will be to bring on EchtraвЂ™s team and expertise, potentially to continue building the franchise, but more generally to help Zynga build out more of a footprint in cross-platform games, and also gaming technology, in particular around tools built on Unreal Engine, the platform of choice at the moment for RPG and other immersive applications.вЂњMax and his team at Echtra Games are responsible for some of the most legendary game properties ever created, and they are experts in the action RPG genre and cross-platform development. No other details on that were released for now.Financial terms of the deal were not disclosed.В ItвЂ™s also not clear who backed Echtra, if anyone.But Echtra is in some ways a classic example of a gaming startup built out of a burning idea, rather than cold, calculated moneymaking вЂ” perhaps the best kind of company you can have.Max Schaefer, the co-founder and CEO, had previously been at Runic Games, the developer of the original Torchlight series, as well as Diablo and others. The game is developing and updating by Zynga, Farmvilles creator,The team will be working on releasing a new title in partnership with ZyngaвЂ™s NaturalMotion studio, the company said.

YouвЂ™ll hear firsthand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. Acquisitions are a major part of its strategy these days, the company said at the time.Going for more immersive RPG titles outside of mobile is an ambitious and potentially more expensive undertaking and is a very notable swerve away from the companyвЂ™s acquisitions in recent years, which have included a majority stake in TurkeyвЂ™s Rollic for $228 million, Peak for $2.1 billion, 80% of Small Giant Games for $718 million and Gram Games for $299 million.Early Stage is the premier вЂњhow-toвЂќ event for startup entrepreneurs and investors. Its revenues of $616 million are the highest-ever quarterly bookings posted by the company.

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