Take-Two Completes Acquisition of Zynga - News
by William D'Angelo , posted on 23 May 2022 / 1,442 Views
Take-Two Interactive in January of this year announced it would acquire Zynga in a deal valued at $12.7 billion. It was the biggest deal in gaming history until later the same month when Microsoft announced its plan to acquire Activision Blizzard for $68.7 billion.
Take-Two Interactive has announced it has completed its acquisition of Zynga with a merger agreement that is paying Zynga shareholders $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.
"We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities," said chairman and CEO of Take-Two
"As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality. Each of our teams has a strong history of operational execution, and together, we expect that we will enhance our financial profile through greater scale and profitability, paving the way for us to deliver strong shareholder value."
Zynga CEO Frank Gibeau added, "We are excited for Zynga’s next-generation mobile platform, free-to-play expertise, diverse offering of games and incredible team to join the Take-Two family. We are eager to continue building an unparalleled portfolio of games that will reach broader markets and lead to continued growth for this next chapter of Zynga’s history."
Take-Two Interactive is based in New York City and owns multiple studios and subsidiaries including Rockstar Games, 2K, Private Division, Ghost Story Games, and T2 Mobile Games. The most popular gaming franchises under Take-Two include Grand Theft Auto, Red Dead Redemption, NBA 2K, BioShock, Borderlands, and more.
Zynga is a social video game developer with thirty million monthly active users as of 2017. Its most popular games include Zynga Poker, FarmVille, and Words with Friends.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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