Social gaming company has agreed to a deal to acquire Superlabs, the incubator founded by chief executive officer Mark Pincus prior to his return to the firm earlier this year.
As reported by iGaming Business, Pincus in April returned to the company that he founded after the departure of Don Mattrick as its chief executive.
During his time away from Zynga, Pincus founded the Superlabs incubator, with the idea of using his own money to build ideas and projects that he had been considering.
Pincus is reported to have invested as much as $2.2 million (€1.9 million) in the incubator, which develops technological ideas.
Under the acquisition agreement, Zynga will take on Superlabs for a price of just $1, although this is likely to increase depending on employee compensation packages and stock grants.
A filing with the Securities and Exchange Commission suggests these grants for the incubator’s nine employees may include up to 1.1 million shares of Zynga stock.
In addition, as part of the deal, Zynga can secure the rights to technology created by the incubator.
Meanwhile, Zynga has moved to strengthen its senior management team by appointing Michelle Quejado as its new chief accounting officer.
Quejado only joined Zynga in March as its vice-president finance, corporate controller, but will now step up to her new role.
Prior to joining the social gaming company, Quejado spent almost 16 years with Lam Research Corporation, where she held a number of positions, including her most recent role as assistance corporate controller.
Quejado’s appointment as vice-president finance, corporate controller, will see chief financial officer David Lee relinquish the additional chief accounting officer role he had been serving in since April last year.
source : www.igamingbusiness.com
