Draper Esprit to receive £39m cash on acquisition
Dublin and London-listed venture capital firm Draper Esprit said it will receive cash of about £39 million (¤43 million) after game maker Zynga completed its acquisition of a Turkish game maker in which the Irish group had invested.
The company said it expects to receive the cash portion of the transaction in the “coming days” while the remaining consideration of shares in US-based Zynga are to be held for at least six months.
Zynga, maker of the popular Farmville game, will pay $1.85 billion (¤1.64 billion) for Peak Games, an Istanbul-based creator of games such as Toon Blast and Toy Blast.
“This transaction represents a significant return on our original investment,” said Martin Davis, Draper Esprit’s chief executive.