Grand theft auto publisher, Take-Two 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,” said Strauss Zelnick, chairman, and CEO.
“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,” – Frank Gibeau, CEO.
“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”.
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