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Zynga Losses Bidding War, Canadian gaming Company Amaya Gaming Group to Acquire Ongame (ZNGA)

Social gaming company, Zynga Inc. (NASDAQ: ZNGA) has failed to acquire online poker provider Ongame Network. Even though Zynga was said to be “leading the race” for quite few months, the Montreal Canada-based company, Amaya Gaming Group eventually won the bidding. Amaya Gaming Group announced on Monday that it bought Ongame for $32.2 million from

The deal is expected to close before the end of the fourth quarter of the current year. According to the deal, Amaya Gaming will pay only $19.3 million in cash after the completion of the deal and another $12.9 million will be payable if United States regulates online gaming in next five years.

Meanwhile, Zynga has teamed up with toymaker Hasbro Inc. (NASDAQ: HAS) as the online gaming company looks to leverage its popularity of online brands in real world. Hasbro is soon expected to launch Zynga-branded board games. At present, Zynga has about 306 million active gamers for its mobile and social network games.

The board games such as Farm Ville, City Ville, Draw Something and Words with Friends are expected to hit markets this month.

Reacting over the Hasbro’s partnership with Zynga, Hasbro Gaming, senior vice president and global brand leader, Eric Nyman said “We are thrilled to be working with Zynga to give their millions of fans an exciting experience with the Zynga games they love.”

Zynga’s executive vice president for corporate and business development, Barry Cottle said that Zynga was proud to team up with Hasbro and excited as players will experience its (Zynga) games in a new way. Cottle also said that new version will further boost Zynga’s relationship with its users that use mobile and social networking platforms to play games.

“Our hope is to enhance relationships through play through our web and mobile social games and now, with the new Hasbro games, we can make those connections even stronger for our players,” said Cottle.



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