Gaming giant Zynga has entered into a definitive agreement to acquire NaturalMotion, a gaming and technology company, for $527 million. NaturalMotion has raised over $12 million in VC funding, most recently landing an $11 million Series B investment from Benchmark Capital in June 2012. The Series B investment was used by the Oxford, U.K.-based company to open its U.S. headquarters in San Francisco.
Zynga, which is reportedly simultaneously cutting 314 jobs, will pay $391 million in cash for NaturalMotion, with the remainder being made up of 39.8 million Zynga shares, 11.6 million of which will go to NaturalMotion employees. NaturalMotion is most well-known for its CSR Racing title, a top-grossing game in the racing category on iOS.