Zynga adds four mobile game companies to roster
Despite lagging share prices, Zynga increases its gaming lineup by acquiring new mobile gaming companies.
Zynga, the San Francisco-based maker of FarmVille and other social games, has upped its gaming lineup, saying today that it bought four mobile gaming companies during the past five months, according to Reuters.
Among the companies Zynga acquired is German-based Gamedoctors, which created the game ZombieSmash; San Francisco-based Page44 Studios, which developed the "World of Goo;" HipLogic that is also based in San Francisco; and New York-based Astro Ape Studios. Zynga declined to say how much it paid for the companies.
As the top maker of Facebook games, Zynga acknowledges that it has been looking to increase its presence across multiple devices, such as tablets and smartphones. Other popular Zynga games include CastleVille, Indiana Jones, Pioneer Trail, and Words with Friends.
At least three of Zynga's newly acquired companies were purchased before it went public last month. Since kicking off its IPO, Zynga's shares have decreased from $10 a share to $8.65 a share at closing today, and have gotten as low as $7.97 per share at one point.
However, CEO Mark Pincus told the Wall Street Journal yesterday that Zynga has achieved its goal by going public last month because it has raised a billion dollars with long-term investments.