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Zynga buys privately held mobile game developer

Zynga Inc. purchased privately held mobile game developer Gram Games for $250 million in cash and a three-year earnout based on the team's achievement of profitability goals that align with Zynga's long-term growth plans.

The acquisition of Gram Games aligns with Zynga's plans to grow its live services, create new franchises and build out its capabilities on emerging platforms, the company said in a May 30 news release.

Zynga will use its live services expertise to grow the Gram Games portfolio. Zynga also expects to bring its Studio Operations and Publishing organization expertise to Gram Games.

Founded in 2012, Gram Games is a mobile game developer with studios in London and Istanbul.