社交游戏巨子Zynga最近有点烦

    一些业界专家表示，公司在收购前应进行审慎地估值。塞巴斯蒂安说：“今天的大热门并不意味着以后还是。所以，收购一家只有一个游戏的公司是非常冒险的行为。”虽然现在估值高潮已经过去，但管理层仍要非常谨慎。当目标公司在市场上拥有热门游戏时，更要慎之又慎。塞巴斯蒂安说：“如果他们的估值正处于上升通道，那么你最后可能要花掉大笔的冤枉钱。”

    一些人则建议公司聘用独立游戏开发者以开发Facebook、手机及其它平台游戏，而不是收购整个公司。至少应等到该领域摆脱困境。在当下的经济环境里，这样的做法更容易，而且花费更少，而最终也能实现相同的目标。具体哪家公司可能受影响最大？Zynga。

    趁着Zynga忙于应付收入不足、收购失误以及高级管理人员大量外流，各游戏公司正公然试图挖Zynga的墙脚。【最近流失的人才就包括保罗•拜特纳和大卫•拜特纳，他们两兄弟创造了非常流行的游戏《和朋友一起接龙》（Words With Friends）]】基金公司Lazard Capital Management互联网与视频游戏资深分析师阿图尔•巴戈称：“Zynga面临的最大挑战是保持员工士气。”而这很可能是它最头痛的事。

    译者：项航

    Some industry experts say companies need to sharply analyze valuations before pulling the trigger on an acquisition. "What's a hit today does not necessarily mean it's a hit tomorrow," says Sebastian. "So it's a difficult business to make acquisitions of one-game companies." Although valuations are coming down, he says, executives still need to be cautious. This is particularly true if the targeted company has a hot game on the market. "If they get caught up on a valuation updraft, you can end up spending too much," says Sebastian.

    Some suggest companies simply hire individual game developers who can create titles for Facebook, mobile phones and other platforms, rather than entire companies. At least until the sector shakes out its troubles. This might be easier -- and cheaper -- in the current environment and would, ultimately, achieve the same end. The company that this might be particularly hard for? Zynga.

    Gaming companies are openly trying to poach talent from Zynga, for example, as it struggles with earnings shortfalls, acquisition missteps and a mass exodus of senior executives. (The most recent of these include Paul and David Bettner, the brothers who created the highly popular Words With Friends.) Says Atul Bagga, senior analyst of internet and video games at Lazard Capital Management, "the biggest challenge for Zynga is going to be keeping their employee morale intact." And that very well could be its biggest headache of all.