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Zynga completes Small Giant Games purchase

Zynga Inc. completed its acquisition of 80% of all issued and outstanding shares and other equity securities of Finland-based mobile game developer Small Giant Games Ltd. in a cash-and-stock deal.

Zynga paid $363.5 million in cash and issued 63,794,746 shares of its class A common stock to certain sellers, according to a Jan. 2 SEC filing. As part of the purchase agreement, $30 million of the cash consideration was placed into an escrow fund.

Zynga will purchase the remaining 20% share of Small Giant over the next three years for amounts determined by profitability goals.