Farmville developer Zynga's struggling stock price could lead to it be purchased by another company, analyst Jesse Divinch has speculated

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Speaking to Game Industry, Divinch, who is Vice President of Insights and Analysis for Electronic Entertainment Design and Research (EEDAR), said that Zynga's recently announced quarterly figures could make it a target for investors. He hinted at Facebook as a likely buyer:

"At a $1.7 billion market cap, a Zynga acquisition seems favorable for anyone looking to pick up 300 million pairs of eyeballs every month. I'd argue that Facebook could become a potential suitor for Zynga - of course I am not trying to spread any rumors; rather I am thinking out loud."

Facebook, which according to its IPO depends on Zynga for 12 percent of its income, could fill a first-party developer role similar to Nintendo, explains Divinch:

"First-party has many roles, but the two primary ones are: Supplying developers with the proper tools, technologies, and support. The second is demonstrating the existence of a profitable, captive, and engaged audience. The Facebook audience is well engaged, somewhat captive, and nowhere near as profitable as they should be."

Zynga has struggled this year after a dismal performance on the stock market, followed by a string of executive level resignations and disappointing Q3 figures; in September (2012) it purchased fellow social game development studio A Bit Lucky. According to Divinch, Facebook, which recently announced it now has one billion active users, would be the perfect company to rescue Zynga from total collapse:

"With 300 million monthly active users, they should be achieving a monthly ARPU of 34 to 39 cents; compared to their current sub-25 cents a user. And that's just gaming revenue. If properly funneled to other entertainment options, a company should be realizing 49-to-53 cents a user per month…In the right hands, Zynga and their 300 million users would be a steal given the company's market cap."

Zynga is currently battling a copyright lawsuit with Electronic Arts, and recently launched Farmville 2, the sequel to its popular Facebook based game.

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