Take-Two Interactive brings mobile gaming company Zynga into the fold.
The acquisition is worth $ 12.7 billion and the company is buying the FarmVille developer with both cash and shares.
It was announced that the company would buy all shares in Zynga for $ 9.86 apiece, causing the Zynga share to rise by 40% and Take-Two’s to fall by 13%.
This combination unites two rather large interactive entertainment companies, as both have created and expanded popular franchises. Take-Two’s brands are well known, while Zynga’s portfolio includes popular mobile titles such as FarmVille, Golf Rival, Harry Potter: Puzzles & Spells, Words With Friends and Zynga Poker among others.
Zynga recently released FarmVille 3, the third game since the franchise’s first release in 2009. The first game was originally released on Facebook and was a huge success among social media users.
“We are pleased to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leading position in mobile, the fastest growing segment of the interactive entertainment industry,” said Strauss Zelnick, Chairman and CEO of Take-Two.
“This strategic combination brings together our best-in-class console and PC franchise with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity. Zynga also has a very talented and deeply experienced team, and we look forward to welcoming them. welcome to the Take-Two family in the coming months.
Take-Two said it expects the deal will help create new mobile games for many of the company’s iconic franchises as well as new cross-platform experiences for many of these properties. Zynga’s nearly 3,000 employees will help pave the way for Take-Two to “accelerate this strategic initiative” and introduce its intellectual properties across mobile, which it calls the “fastest growing platform in the industry.”
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