Turkish Gaming Company Peak Games Sold for 1.8 Billion Dollars

A new one has been added to the local initiatives that have left their mark on the global mobile game industry. Toon Blast And Toy Blast Peak Games, which is popular around the world with its games such as and the first Turkish company to advertise on US televisions, now belongs to US-based Zynga. If you remember, we told you the first details of the agreement last week. Now that official signatures have been made, we can speak more clearly. 

Zynga, which purchased Gram Games, another Istanbul-based game company, for 250 million dollars in 2018, acquired two departments of Peak Games in 2017. Continuing its investment in Türkiye-based gaming startups, Zynga this time All Peak Games incorporated it.

Peak Gamas managed to become Turkey's first unicorn, that is, a startup valued at over $1 billion:

There has never been another company in the history of Türkiye that reached a valuation of $1 billion. Zynga, in accordance with the agreement By giving 900 million dollars in cash and 900 million worth of shares It will increase the investments made by Peak partners by at least 18 times. From this perspective, Peak Games can be seen as the most profitable domestic initiative in recent history. 

Peak Strategy Director Ömer İnönü, "In 10 years, we have created one of the giants of the global mobile gaming industry from Türkiye. This is truly proud for both Peak and our country. We waited for the right time to join forces with a strategic partner to further increase our growth, progress and impact." He made a statement.

Expressing his satisfaction with the work done by Zynga, İnönü said: "The agreement we made is, at its core, an indication of the trust in Peak's entire team, what they have done and what they will do, and Peak's potential. We are happy, proud, but most of all, we are excited for what we will achieve from now on." he said. 

Frank Gibeau, CEO of Zynga "We are proud to welcome Peak. Peak is one of the best puzzle game developers in the world. We are excited to take our skills even further with such a creative and passionate team. While we are increasing the number of our top-ranked games to 8 with the participation of Toon Blast and Toy Blast, we are dramatically increasing our number of global users and preparing for new projects in the future. Peak and Zynga will grow even faster together." He made a statement.

Peak founder Sidar Şahin: “I want mothers and fathers in Turkey to believe in their children”

Sidar Şahin, one of the founders of Peak Games and its largest shareholder who serves as its CEO, "The most important aspect of this agreement is that it concretely demonstrates that the impossible can be achieved. I want parents in Turkey to believe in their children. As long as they do the job they love by constantly improving, they should believe that they can succeed. Both children and young people should believe that they can achieve themselves. Because everything starts with believing." he said. 

Highlights about Peak Games and its sales:

• All shares of the company will belong to Zynga for a total of 1.8 billion dollars.
• The company's management team will not change.
• With this sale, Peak Games became Türkiye's most valuable traded company, leaving behind Trendyol, which was purchased by Alibaba for 728 million dollars in 2018.
• The company's headquarters and all employees will continue to stay in Istanbul.
• To date, Peak Games has generated $1 billion in revenue with the mobile game Toy Blast alone.
• The company's turnover in April 2020 alone is 36 million dollars.
• With the sale, the company's investors increased their invested money by at least 18 times.
• Peak Games was one of the three local enterprises that paid the most taxes in Turkey. Peak Games was also the first Turkish company to acquire another startup from abroad.
• Peak Games introduced its games on US television with a commercial starring Ryan Reynolds.
• The commercial, which was broadcast simultaneously on 41 national television channels in 2019, also belonged to Peak Games.