Take-Two Interactive, the owner of Rockstar Games and 2K, has reached a deal to acquire mobile game developer Zynga in what would be the acquisition of the most valued games company of all time, at over $ 12 billion.
The two U.S. companies announced the deal in a recent press release, saying the acquisition would be in cash and stock, with Zynga valued at around $ 12.7 billion. This overshadows Microsoft’s deal with Bethesda Studios last year, which finalized $ 7.5 billion. Take-Two and Zynga have both expressed enthusiasm for the merger and the prospect of becoming one of the leading developers in the ever-growing mobile gaming market.
“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, Chairman and CEO of Take-Two. “This strategic combination brings together our best console and PC franchises, with a diverse and market-leading mobile publishing platform that has a rich history of innovation and creativity.”
The merger would significantly strengthen Take-Two’s position in the gaming industry, as the company already owns giant franchises such as Grand Theft Auto, Civilization, Red Dead Redemption, Borderlands, and NBA 2K. Now, with the addition of Zynga’s expansive portfolio of successful mobile games – which includes Farmville, Zynga Poker, Words with Friends, and Harry Potter: Puzzles and Spells – it could propel both companies to dominate the mobile gaming market.
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