Take-Two Interactive Acquires Zynga.
The deal makes Take-Two acquire all of the outstanding shares of Zynga in a combination of cash and stock valued at $9.86 per Zynga share. The total value amounts to $12.7 billion which makes the Zynga stock owners’ compensation $3.50 in cash and $6.36 in shares of Take-Two.
Take Two’s CEO, Strauss Zelnick, said, “This strategic combination brings together our best-in-class console and PC franchises, with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity.
As we combine our complementary businesses and operate at a much larger scale, we believe that we will deliver significant value to both sets of stockholders, including $100 million of annual cost synergies within the first two years post-closing and at least $500 million of annual Net Bookings opportunities over time.”
Zynga is a mobile gaming giant with hugely famous titles like Farmville and Words with Friends. On the other hand, Take-Two has popular titles under its belts like Grand Theft Auto, Red Dead Redemption, and Civilization. The acquisition will bring out the best in both companies.
Zynga’s CEO, Frank Gibeau, said, “Combining Zynga’s expertise in mobile and next-generation platforms with Take-Two’s best-in-class capabilities and intellectual property will enable us to further advance our mission to connect the world through games while achieving significant growth and synergies together.”
Gaming News Of Video Game Consultant;
Gaming News Every day the latest video game news about the gaming industry. Video games news on NFTs (non-fungible tokens, NFT, NFT’s) , Play to Earn (P2E/Play-to-Earn), crypto games and crypto currencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain based video games and its transactions and payments in the games.
Entertainment and all the big tech companies and technology behind it. Hyper Casual Games and the game studio’s that lead the way. Mobile games, PC games and Console Games and their vision on cloud gaming, streaming, esports and gamer communities. Online digital entertainment like movies, music, concerts, art and top brands such as fashion and much more that connect with video games in the metaverse.