Sign up
Tech Capital

Zynga stock surges on takeover talk from other gaming rivals

The company's founder transitioned a few months ago to the role of non-executive chairman
CSR Racing game
Zynga develops, markets, and operates social games as live services in the US and internationally

Zynga Inc (NASDAQ:ZNGA) shares popped following reports that the company has drawn takeover interest from gaming rivals, a report by CNBC said

Zynga has come up several times in takeover rumors as it struggled to to trade at its December 2011 IPO price of $10.

Zynga closed on Tuesday up 12.37% at $4.36 and edged up in Wednesday's premarket to $4.39. The rally in the previous session is the biggest for the company since 2014. 

The company had no immediate reaction to the report.

BIG PICTURE: Esports Entertainment believes gaming is turning lucrative and coming into its own

The founder of Zynga, Mark Pincus, said in a blog post on May 2: "The transition to mobile challenged our ability to continue delivering games our players would thank us for and left the company headed in the wrong direction."

He said then Zynga is again in a strong position, he said he would transition "to non-executive chairman."

"Mobile gaming, which didn’t exist in 2007, is now a $70b (and growing) business," he said.

Zynga develops, markets, and operates social games as live services in the United States and internationally.

The company's games are played on mobile platforms, such as iOS and Android operating systems, as well as on social networking sites, including Facebook

The company is based in San Francisco, California.







Register here to be notified of future ZNGA Company articles
View full ZNGA profile View Profile

Zynga shows some zip

View All

Related Articles

© tech Capital 2019

Tech Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed tech companies to interact with institutional and highly capitalised investors.
Headquartered in London, Tech Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.