Zynga buys NaturalMotion, lays off 15% of employees
"Looking at Q4, we had a solid finish to the year and generated momentum going into 2014. We delivered bookings of $147 million and Adjusted EBITDA of $3 million. In addition to our solid quarterly performance, we achieved our full-year profitability goal on an adjusted EBITDA basis.
"When we reviewed the support areas and looked at what was an appropriate size to have agile, dedicated teams, we decided to redeploy and right size against our best opportunities for growth. The final part of that effort is today we are implementing a 15% workforce and cost reduction plan which impacts 314 employees. We don't take these decisions lightly but we believe these actions will allow us to create a clearer, faster path to win," Mr. Mattrick wrote in an email sent to employees.
The company also announced financial results for the fourth quarter and full year ended December 31, 2013, with adjusted EBITDA of $3M. The company also said it paid $527 million for NaturalMotion, a U.K. company known for doing the background animation for video games. ■