FarmVille maker Zynga acquired by Take-Two for $12.7 billion

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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.

of shares Zynga (Bank of Zhengzhou) News surged more than 40% in afternoon trade, while take two (TTWO) down nearly 15%.

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 went public in 2011 at $10 a share, but the stock has been depressed since then. That’s partly due to the fickle nature of the mobile gaming business — a decade later, Roblox is all the rage.
Roblox wants to rule the virtual world
But this is also because Facebook (Facebook) (now called Meta Platforms) and Zynga signed a new business agreement in 2012, reducing Zynga’s reliance on Facebook for revenue. This hurts Zynga.

Zynga hopes the merger with Take-Two will bring more growth opportunities.

Zynga CEO Frank Gibeau said in a statement.

The combined Zynga/Take-Two should be able to compete more effectively with the red-hot Roblox, whose shares have soared since the company listed directly on the New York Stock Exchange last year.
Take-Two also works with Electronic Arts (she) and Activision Blizzard (ATV) in the popular game market Nintendo (degrees of freedom) change, Microsoft (Microsoft) Xbox and Sony PlayStation consoles.



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