Social gaming giant Zynga has agreed a deal to acquire mobile programmatic advertising and monetization platform Chartboost for approximately $250.0m.
Zynga will fund the purchase using cash, with the final upfront transaction consideration to also include customary closing adjustments.
Chartboost is a unified advertising platform that includes a Demand Side Platform, Supply Side Platform and mediation capabilities. The platform has more than 700 million monthly users and over 90 billion monthly advertising auctions.
Zynga said a combination with Chartboost would create a next generation platform offering content, direct player relationships, significant reach and full-stack advertising technology, which can be applied across its game portfolio and Chartboost’s advertising partners.
The acquisition is expected to close in the third quarter of this year.