Zynga yet again blogged its latest acquisition on Friday. Five Mobile has been acquired by Zynga and its in fact in the last fourteen months, this is Zynga’s fifteenth acquisition. Zynga has even acquired intellectual property and a few assets of Five Mobile. However the financial disclosures for the latest addition has not yet been made.
Five Mobile is a mobile application developing firm which is based in Toronto and has experienced working with some of the biggest companies in the technology and media fields. The founding members of Five Mobile Ameet Shah, Jeff Zakrzewski, Oliver Tabay and Troy Hubman, will even join the team of Zynga. This division of Zynga will be named Zynga Toronto and will be headed by Ameet Shah and would be reporting to David Ko who leads Zynga’s mobile branch.
Zynga Toronto will be used for the development of many different projects for Zynga Mobile. Five Mobile team’s varied experiences will help this majorly as already they are familiar with the industry of mobile application development.
Talking about Zynga’s craze to acquire other companies, Zynga has been expanding its empire by acquiring one entity almost every month and looking at the selection of companies, it can be said that the Zynga team is now focusing on mobile platform developments. Other known recent acquisitions include DNA games which is a social game developer and the team which has worked on cocos2d for iPhone. Zynga has even made an announcement that they have striked a deal with AT&T in regards to getting mobile games to the customers of the company.
Financially, U.S. Securities regulators had reported that Zynga had generated revenue of US$597 million while the net income was US$90.6 million in the last year. This was based on the documents which were filed a few days earlier. In 2011’s first quarter the revenue generation for Zynga was US$235.4 million and net income was recorded at US$11.8 million. Additionally, Zynga has filed for an IPO and it plans to raise its sales to US$1 billion.