NEW YORK (
Shares of Zynga are soaring on Friday after the Internet game company said it will buy U.K.-based game developer NaturalMotion for about $527 million in cash and equity. NaturalMotion is behind popular games including "Clumsy Ninja" and "CSR Racing". Zynga also plans to cut 314 employees, or 15% of its workforce, in effort to reduce costs and streamline its operations, according to a blog post by CEO Don Mattrick. Zynga, which makes games like "FarmVille" and "Mafia Wars," that are mostly played on desktop and laptop computers, has been struggling as more gamers turn to smartphones and tablets. The NaturalMotion acquisition will also give Zynga acess to its game engine Euphoria on mobile platforms.
Written by Brittany Umar in New York.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV