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Zynga paid cold hard cash for Omgpop

Zynga paid cold hard cash for Omgpop

March 23, 2012 | By Mike Rose




Newsbrief: Social games giant Zynga has confirmed via a new SEC filing that it paid $180 million for Draw Something developer Omgpop, while also revealing that it paid for the company in cash rather than liquid shares.

Reports also said Zynga paid Omgpop staff around $30 million in retention payments.
Zynga bought Omgpop earlier this week as a means of expanding its social games offerings, it said in the new filing. Draw Something's popularity exploded on mobile app stores in the last few weeks, receiving more than 35 million downloads on iOS and Android devices for both its paid and ad-supported free versions. It's surged in popularity on Facebook too, where it now has 12.2 million daily active users.

Following the acquisition, analysts said that a bidding war between Zynga and other interested parties was potentially the reason that the company purchased Omgpop for such a high price.


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