The surprise move comes just one day after taking an $8 billion write-down on its previous $10 billion acquisition of enterprise software concern Autonomy.
HP is offering Zynga's existing shareholders an all cash deal at $6.32 a share, which represents a 280% premium over its closing price yesterday. In a statement to shareholders HP CEO Meg Whitman said the deal was 'a perfect strategic fit': "HP strongly believes that success in consumer printing depends on maintaining a strong identity as a consumer-focused company. Today's purchase of Zynga solidifies HP as a consumer brand and allows us to exploit natural synergies between smartphone games and printers."
