Take-Two announced Monday that it is buying Zynga in a cash and stock deal valued at $ 12.7 billion, including debt. The deal values Zynga at $ 9.86 per share.
The deal gives Take-Two a greater presence in the lucrative world of mobile gaming, expanding its business beyond the console and PC games it is primarily known for, including NBA 2K, Red Dead Redemption, and the GTA series. .
“We are delighted 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, CEO of Take-Two, in a statement. .
For Zynga, the takeover gives the company a richer relative in the gaming business who can help it grow.
Zynga hopes that the merger with Take-Two will lead to more growth opportunities.
“Combining Zynga’s expertise in mobile and next-gen platforms with Take-Two’s best-in-class capabilities and intellectual property will allow us to advance our mission of connecting the world through games while achieving growth. significant, ”said Frank Gibeau, CEO of Zynga in a statement.