TAKE-TWO buy mobile games giant Zynga for $12.7bn
Grand theft auto publisher, Take-Two (T2) Interactive is likely to buy mini-games maker Zynga in a big deal worth nearly $12.7 billion, cash and stock. The company announced its intention to acquire all the existing shares of Zynga at roughly $9.86 per share.
Zynga is renowned for its blockbuster games, including FarmVille and Words With Friends. The California-based video maker Zynga has secured more than 183 million monthly active users playing its games on mobile.
Take-Two said, “It would be the greatest acquisition of its history to create the largest most mobile game publishers in the industry.”
Take-Two’s rarely seen in mobile games; some of its offerings include Dragon City, Monster Legends, Top Eleven, Two Dots, and WWE SuperCard.The final documentation process will take place soon; following the acquisition, Strauss Zelnick, Chairman, and CEO of Zynga will stay back in his position; simultaneously, the overall organization management group of Take-Two will usher in the combined team for future exploration.
The acquisition of Zynga will be a great deal ever in the gaming realm, outstripping Microsoft’s takeover of Bethesda, worth nearly $8.1bn, and the leading entertainment firm Tencent‘s buyout of Supercell for $8.6bn.
We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, the fastest-growing segment of the interactive entertainment industry.
Combining Zynga’s expertise in mobile and next-generation platforms with Take-Two’s best-in-class capabilities and intellectual property will enable us to advance further our mission to connect the world through games while achieving significant growth and synergies together
“I am proud of our team’s hard work to deliver a strong finish to 2021, with one of the best performances in Zynga’s history. We are incredibly excited to have found a partner in Take-Two that shares our commitment to investing in our players, amplifying our creative culture, and generating more value for stockholders”.