Zynga's New $1 Billion Credit Line Could Double its Acquisition Warchest, Or Give It Time Amid Market Volatility
Zynga set up a revolving credit agreement in July, allowing it to borrow up to $1 billion in revolving loans, according to an amended IPO filing released today. This could help the company make big ticket acquisitions, especially as it looks to break into mobile gaming. It could also give Zynga some flexibility around when it wants to make its public offering, especially considering volatility in global equity markets in recent weeks.
The company didn’t say what the credit facility was for.
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