A very relevant business move just carried out by Take-Two, a company that owns multiple developers and studios, such as Rockstar or 2K Games. The company has just announced the acquisition of Zynga, one of the world leaders in the mobile video game market in a deal that closes for $ 12.7 billion.
The company acquires all the shares, valued at $ 9.86 each as of January 7, 2022. Strauss Zelnick, President and CEO of Take-Two, has valued the purchase as follows:
“We are delighted to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile devices, the fastest growing segment of the interactive entertainment industry.”
And it is that Zynga has achieved its power in the mobile device sector thanks to titles and franchises such as CSR Racing, Empires & Puzzles, FarmVille, Golf Rival, Hair Challenge and many other representatives. Frank Gibeau, CEO of Zynga, also celebrates this transaction:
“Combining Zynga’s expertise on mobile and next-generation platforms with Take-Two’s best capabilities and intellectual properties will allow us to further advance our mission to connect the world through games while achieving significant growth and synergies together. “.
Among the objectives set by Take-Two after this move, we find positioning itself as “a leader in mobile games, and mobile devices are expected to comprise more than 50% of net bookings in fiscal year 2023.” On the other hand, you want to bet on a broader portfolio of mobile games that take advantage of Take-Two’s intellectual properties, although they have not specified which ones they refer to.
More than 3,000 Zynga employees switch contractors, with Take-Two’s current leadership leading the resulting combination. This same board will be expanded to 10 members with the incorporation of two representatives of Zynga’s.