I finally got caught up on reading 8K filings and saw that Zynga‘s acquisition of 80% of Super Giant Games Oy was in exchange for $363.5 Million in cash and 63,794,746 shares of Class A common stock. At today’s $4.40/share (if the Super Giant team and investors could sell that much on the open market at that price), that would be $280.7 Million. That’s Approximately $644.2 Million so far with an almost $50M profit from the Zynga share value increase. The remaining 20% of the company will be acquired over the next three years based on profit goals. Empires & Puzzles is amazingly well designed and it’s going to prove to be a bargain even if the total with the earn out reaches $1 Billion.

According to the 8K, Super Giant received $333,549,846 in cash (not including cash and liabilities) and $230,936,975 in Stock (@$3.62/share on December 20, 2018).  So we can derive that Super Giant still had about $32 Million in cash when they were acquired. They were

Here’s a quote from the original Tech Crunch article on the acquisition, “The company reported $33 million of revenue for Empires & Puzzles, its most popular game, 10 months after its launch in 2017.”

I think this is a fantastic acquisition by Zynga that really adds to their balance sheet and their internal capabilities.