Take-Two Interactive, the company behind the Grand Theft Auto franchise, has announced that it will acquire all of Zynga’s outstanding shares for $12.7 billion.
The publisher giant announced the news in a press release this morning, saying that Take-Two has acquired Zynga for $9.86 a share, which could lead to games like FarmVille, Words With Friends and the upcoming Star Wars: Hunter. famous. Bringing Zynga under the Take-Two umbrella instantly makes Take-Two one of the world’s largest mobile game publishers, which the press release calls “the fastest growing segment of the interactive entertainment industry.”
“[This acquisition] Unify highly complementary businesses, including Take-Two’s best-in-class console and PC gaming portfolio and Zynga’s industry-leading mobile franchises,” reads the announcement’s press release.”[It also] Created one of the largest publicly traded interactive entertainment companies in the world. ”
Take-Two CEO and chairman Strauss Zelnick said the acquisition will pave the way for the company to make more mobile games based on its already popular titles on consoles and PCs.
“This strategic combination brings together our best-in-class console and PC franchises with a market-leading, diversified mobile publishing platform with a rich history of innovation,” Zelnick wrote. “As we combine our complementary businesses And operating at a larger scale, we believe we will deliver significant value to both groups of shareholders.”
Considering the rapid growth of the mobile market, the acquisition is a smart move for Take-Two. As the press release notes, it’s the fastest-growing segment of the game development industry, “expected to reach $136 billion in gross bookings in 2021.”
Zynga is a company of nearly 3,000 employees, and once the deal closes, everything seems to be going as usual, as will the company’s leadership.
“Following the closing of the transaction, Strauss Zelnick will continue to serve as chairman and chief executive officer, and Take-Two’s management team will continue to lead the combined company,” the release reads. “Zynga’s highly skilled and proven management team, led by Frank Gibeau and Zynga Publishing President Bernard Kim, will drive the strategic direction of Take-Two’s mobile business and will oversee the integration and day-to-day operations of the combined Zynga and T2 mobile gaming businesses, which The business will operate under the Zynga brand as a private label within the company. In addition, Take-Two will expand its board of directors to 10 following the closing of the transaction, adding two Zynga board members.”
The transaction is scheduled to close in Take-Two’s first quarter of fiscal 2023, which ends on June 30, 2022.
Which Take-Two games would you like to see on mobile? Let us know in the comments below!