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Photo: Zynga

Zynga agreed to buy Turkish mobile-game maker Peak for $1.8 billion, split evenly between cash and stock.

Why it matters: It's the largest acquisition ever for Zynga, once one of the hottest Web 2.0 names in Silicon Valley, and has helped surge its stock to levels not seen since 2012.

  • Peak raised $19 million between 2011 and 2013 from firms like Earlybird VC, Hummingbird Ventures and Endeavor Catalyst.

The bottom line: "The deal brings Peak's 100-strong team plus two successful puzzle games, 'Toon Blast' and 'Toy Blast,' to Zynga's roster. Zynga stated in its announcement that the two game franchises have consistently ranked in the top 10 or 20 grossing games on the App Store over the past two years," writes Business Insider.

Go deeper

Biden Cabinet confirmation schedule: When to watch hearings

Joe Biden and Kamala Harris on Jan. 16 in Wilmington, Delaware. Photo: Angela Weiss/AFP via Getty Images

The first hearings for President-elect Joe Biden's Cabinet nominations begin on Tuesday, with testimony from his picks to lead the departments of State, Homeland and Defense.

Why it matters: It's been a slow start for a process that usually takes place days or weeks earlier for incoming presidents. The first slate of nominees will appear on Tuesday before a Republican-controlled Senate, but that will change once the new Democratic senators-elect from Georgia are sworn in.

Kamala Harris resigns from Senate seat ahead of inauguration

Vice President-elect Kamala Harris. Photo: Mason Trinca/Getty Images

Vice President-elect Kamala Harris submitted her resignation from her seat in the U.S. Senate on Monday, two days before she will be sworn into her new role.

What's next: California Gov. Gavin Newsom has selected California Secretary of State Alex Padilla to serve out the rest of Harris' term, which ends in 2022.

4 hours ago - World

Putin foe Navalny to be detained for 30 days after returning to Moscow

Russian opposition leader Alexey Navalny. Photo: Oleg Nikishin/Epsilon/Getty Images

Russian opposition leader Alexey Navalny has been ordered to remain in pre-trial detention for 30 days, following his arrest upon returning to Russia on Sunday for the first time since a failed assassination attempt last year.

Why it matters: The detention of Navalny, an anti-corruption activist and the most prominent domestic critic of Russian President Vladimir Putin, has already set off a chorus of condemnations from leaders in Europe and the U.S.