Zynga Inc (NASDAQ:ZNGA) is one of the companies we have mentioned who suffered not only from a poor IPO of their own, but also from Facebook’s Inc (NASDAQ:FB) failings as a company as well. In an attempt to turn all of this around, Zynga has been buying up smaller companies, in hopes of increasing its user base, and thereby increasing earnings.
The company’s newest acquisition, A Bit Lucky Inc., has yet to be officially announced, but according to BusinessWeek, the announcement could be made sometime today. The sources quoted by BusinessWeek asked to remain anonymous, as the terms of the deal have not yet been disclosed. But, they claim that the deal is going to happen for the San Mateo, California based gaming company.
A Bit Lucky Inc. will join OMGPop in Zynga’s repertoire of companies. Zynga Inc (NASDAQ:ZNGA) acquired OMGPop for $180 million in March, and joined a list of companies which cost Zynga $147.2 million in all. The list now tallies 23 with A Bit Lucky added to the fold, and Zynga seems to be trying to salvage itself from the death throes that Facebook’s botched IPO has left it in.
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Facebook Inc (NASDAQ:FB) began closing Zynga’s coffin, when the social networking giant changed the way its games appeared to users. This pushed some of Zynga’s more popular titles, like Farmville, further back in the list, and Zynga Inc (NASDAQ:ZNGA) saw a decrease in users due to this change. Some of Zynga’s recent games, such as Farmville 2 have not proven to be as popular, as we reported here.
However, Zynga’s woes are not entirely the fault of Facebook Inc (NASDAQ:FB), as the company has failed to capitalize in the mobile market until recently. Zynga Inc (NASDAQ:ZNGA) has finally shifted its focus to the mobile market, after realizing that more and more people were accessing the games through the mobile platform.
Could this move come too late for the gaming giant? They have also recently announced plans to begin offering online gambling, although, as one of our earlier articles pointed out, owning shares in Zynga Inc (NASDAQ:ZNGA) is also a gamble these days.