Dublin and London-listed venture capital firm Draper Esprit said it will receive cash of about £39 million (€43 million) after game maker Zynga Inc completed its acquisition of a Turkish game maker in which it has invested. The firm said it expects to receive the cash potion of the transaction in the “coming days” while the remaining consideration of shares in US-based Zynga are to be held for at least six months. Zynga’s deal sees it pay equal parts cash and shares. Draper Esprit said that, on the basis of the current Zynga share price, its holding is worth about £88 million. “This transaction represents a significant return on our original investment and builds on the strong momentum we have already generated since starting the new financial year,” said Martin Davis, Draper Esprit’s chief executive.

Source: The Irish Times July 03, 2020 06:22 UTC