Zynga acquires Floodgate Entertainment

Furthering Zynga's presence on the East Coast is Floodgate Entertainment, the latest acquisition for the social games giant. Floodgate will be assimilated into Zynga Boston, with the formerly independent developer's founder, Paul Neurath, overseeing as creative director.

Zynga has been giving its checkbook a workout over the past few months, purchasing Drop7 dev Area/Code (now Zynga New York), as well as snatching up Lou Castle, who was CEO for InstantAction before it went the way of the Dodo. Zynga's current worth is estimated to be in the billions.

This article was originally published on Joystiq.