Take-Two . interaction is bringing mobile game company Zynga into the folds.
The acquisition is worth $12.7 billion, and the company is buying developer FarmVille in both cash and stock.
It was announced the company will buy all shares of Zynga at $9.86 per share, making Zynga stock up 40% and Take-Two down 13%.
The combination unites two sizable 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. other games.
Zynga recently released FarmVille 3, the third game since the first version of the franchise in 2009. The first game was originally released on Facebook and has been a huge success with social media users. festival.
Strauss Zelnick, President and CEO of Take-Two said: “We are delighted to announce our transformative transaction with Zynga, which significantly diversifies our business. and establish our leadership in mobile, the fastest-growing segment of interactive entertainment.”
“This strategic combination brings together our best PC and console franchises, with a diverse, market-leading mobile publishing platform, and a rich history of innovation and creativity. Zynga also has a talented and experienced team, and we look forward to welcoming them into the Take-Two family in the coming months.
Take-Two said it hopes the deal will help create new mobile games for many of the iconic franchises across the company’s portfolio as well as new cross-platform experiences for many. this property. Zynga’s nearly 3,000 employees will help pave the way for Take-Two to “accelerate this strategic initiative” and showcase its intellectual properties on mobile devices, which it calls a “developing platform.” fastest in the industry.”
https://www.vg247.com/gta-parent-company-take-two-acquires-farmville-maker-zynga-for-127-billion GTA parent company Take-Two acquires FarmVille producer Zynga for $12.7 billion