San Francisco based mobile games giant Zynga Inc has announced in its Q1 earnings report that it has entered into a definitive agreement to purchase mobile advertising and monetisation platform Chartboost. The deal which will see Zynga acquire 100% of Chartboost at a valuation of $250 million and is expected to close, with final closing adjustments, in the third quarter of 2021.

Zynga had previously announced during in their Q4 earnings call to investors that it had a $1.5 billion plus war chest toinvest in 'new advertising technologies' The acquisition will see Zynga bring Chartboost advertising network of over 700 million user under it's umbrella along with a monetisation platform serving 90 billion mobile advertising auctions.

Commenting on the deal, Frank Gibeau, CEO of Zynga said, “Chartboost is one of the most dynamic monetization and discovery platforms in mobile, and we could not be more excited to welcome their talented team to our company. By combining Zynga’s high-quality games portfolio and first-party data with Chartboost’s proven advertising and monetization platform, we will create a new level of audience scale and meaningfully enhance our competitive advantage in the mobile ecosystem.”

“We are thrilled to join with Zynga to further build and expand our full stack advertising platform that will serve Zynga and the entire mobile ecosystem,” said Rich Izzo, Chief Executive Officer of Chartboost. “Together, we share a vision of the future where a combined advertising, analytics and content platform will accelerate growth across both of our companies. Zynga already feels like family and an extension of our own company culture.”

By Gamesforum Staff