Social games company Zynga, which is backed by a large consortium including UK-listed internet investment company Mail.ru, has acquired mobile developer Newtoy for an undisclosed sum.
It is the latest deal for Zynga, which acquired more than four companies in the past year, including Conduit Labs, after raising about $390m in venture funding, from Japan-based conglomerate Softbank and Russian internet holding group Digital Sky Technologies and Mail.ru, as well as venture capital firms.
Paul Bettner, chief executive and co-founder of Newtoy, said, "It has been a long road to get here, but I am so happy to celebrate the rebirth of our studio as Zynga With Friends. Throughout this process, both the Newtoy and Zynga teams utilized a secret codename of sorts for the operation, ‘Jetpack’. Why this name, and not something else – like code 007? [It is] because, to us, this acquisition represents the potential to ‘strap jetpacks to our backs’ and move faster towards our shared goal of connecting the world through games."
He has become vice president of Zynga With Friends Studio, reporting to David Ko, senior vice president of mobile at Zynga.