Take-Two said on Monday it would buy Zynga in a cash and stock deal worth $12.7 billion, including debt. The deal valued Zynga at $9.86 per share.
The deal gives Take-Two a bigger slice of the lucrative mobile gaming world, expanding its business beyond its major known console and PC titles, including NBA 2K, Red Dead Redemption and the GTA series.
“We are pleased to announce our transformative transaction with Zynga, which significantly enriches our business and establishes us as the fastest growing player in the interactive entertainment industry,” said Take-Two Chairman and CEO Strauss Zelnick in a statement. leadership in mobility.” .
For Zynga, the acquisition gives the company a deep-pocketed parent company in the gaming business that can help it grow.
Zynga hopes the merger with Take-Two will bring more growth opportunities.
Zynga CEO Frank Gibeau said in a statement.
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