Zynga today announced that it has acquired the Echtra Games team led by developers of Diablo and Torchlight franchises, to “strengthen Zynga’s development capabilities for future cross-platform projects.”
Financial terms of the deal were not disclosed.
The Echtra Games team will continue to develop a new, yet to be announced role-playing game (RPG) for cross-platform play, in partnership with Zynga’s NaturalMotion studio.
“Max 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. I’m excited to welcome the Echtra Games team into the Zynga family,” said Frank Gibeau, Chief Executive Officer of Zynga.
“This acquisition will be instrumental in growing our iconic licenses and brands from mobile to PCs and consoles, while helping to further expand Zynga’s total addressable market.”
“Echtra Games is delighted to be joining the Zynga family,” said Max Schaefer, Chief Executive Officer of Echtra Games. “We share Zynga’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.”
Within 2020, Zynga made big acquisitions: It acquired Turkish game studio Peak for $1.8 billion and the company announced the purchase of 80% of Rollic for around $180 million in cash.
In the last quarter of 2020, Zynga’s revenue was $ 616 million, up 52% year-over-year, and total annual revenue for 2020 was $ 1.97 billion, Zynga’s highest revenue ever. In its latest earning statement, Frank Gibeau said the company is looking for more acquisitions and it also considers building its own ad network.
The company might also consider acquiring some ad tech.