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Zynga sells headquarters for $600 million to help finance acquisitions

Social and mobile game developer Zynga has sold its San Francisco headquarters for $600 million, and intends to use some of the cash to finance further acquisitions.

Chris Kerr, News Editor

May 29, 2019

1 Min Read

Social and mobile game developer Zynga has sold its San Francisco headquarters for $600 million, and intends to use some of the cash to finance further acquisitions. 

The FarmVille and Words with Friends maker sold the building to Beacon Capital Partners, and plans to lease it back immediately to save uprooting its employees.

As reported by VentureBeat, the company bought the office block for $234 million back in 2012, meaning it's made a tidy profit from the sale. 

"We are building up our reserves," commented company CEO, Frank Gibeau. "It's a nice gain for our shareholders and we’ll put it into cash, minus the transfer costs. The goal is to grow as we’ve done with Gram, Small Giant, and Peak."

"We’ll invest in running the business, acquisitions, and our current buyback program. We will make sure we do the right thing."

Last year, the company made some notable purchases, buying Merge Dragons! developer Gram Games for $250 million, and Empires and Puzzles creator Small Giant Games for $560 million.

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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