Draper Esprit to re­ceive £39m cash on ac­qui­si­tion

The Irish Times - - Markets - PETER HAMIL­TON

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.

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