Social gamer Zynga grabbed a lot of press lately. First the company re-upped with Facebook. Next it doubled down with Yahoo. Now the company is expanding its development operations with the purchase of Austin based Challenge Games. Challenge, which developed games like Warstorm and Ponzi was backed by Sequoia Capital and Globespan.
In other M&A news, Google has acquired Philadelphia based advertising shop Invite Media for an undisclosed sum thought to be in the range of $50 to $75m. Invite developed technology that “enables advertisers and agencies to use “real time bidding” to buy display ad space, and to optimize display ad campaigns, across multiple advertising exchanges.” More info on the DoubleClick Advertiser Blog here.