Home > Latest News > Take-Two Acquire FarmVille Creator Zynga For $17.7 Billion

Take-Two Acquire FarmVille Creator Zynga For $17.7 Billion

Take-Two Interactive has announced its takeover of mobile gaming company Zynga, for a massive A$17.68 billion.

The deal is valued at US$9.86 per share, with US$3.50 in cash and the rest in shares of Take-Two stock.

Zynga is behind some of the biggest games on the mobile platform, creating titles such as Empires and Puzzles, FarmVille, Words and Friends, and more. The deal will make Take-Two one of the biggest gaming companies in the world.

“We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, the fastest growing segment of the interactive entertainment industry,” said Strauss Zelnick, chairman and CEO of Take-Two.

“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.

“Zynga also has a highly talented and deeply experienced team, and we look forward to welcoming them into the Take-Two family in the coming months.

“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.

“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.”

Frank Gibeau, CEO of Zynga said in a statement:

“I am proud of our team’s hard work to deliver a strong finish to 2021, with one of the best performances in Zynga’s history. We are incredibly excited to have found a partner in Take-Two that shares our commitment to investing in our players, amplifying our creative culture, and generating more value for stockholders.

“With this transformative transaction, we begin a new journey which will allow us to create even better games, reach larger audiences and achieve significant growth as a leader in the next era of gaming.”

The transaction is expected to close in Q1 of FY23.

 



You may also like
Sega To Buy Angry Birds For $1.5 Billion
Mobile Game Market Sees First Decline In Smartphone Era
Gaming Industry Facing First Annual Decline In A Decade
Games Market Down 4.3% This Year
Candy Crush Bucks Mobile Gaming Slump

Popular Posts

LG Undertakes Another Appliance Recall After House Fires & Pets Killed
Latest News
/
/
EXCLUSIVE: Audio Connection Takes On French Audio Brand, Third Distributor In 4 Years
Latest News
/
/
Hackers on computers wearing face masks. Image: Microsoft Copilot
Urgent Upgrade Of Netgear Routers Recommended
Latest News
/
/
Amazon Struggling To Cope With AI Demand
Latest News
/
/
EXCLUSIVE: Yamaha Responds To Rumours That They Are Set To Quit The AV Market
Latest News
/
/

Digital Magazines

Recent Post

LG Undertakes Another Appliance Recall After House Fires & Pets Killed
Latest News
/
//
Comments are Off
LG is facing another product recall, this is the same appliance manufacturer the Australian Competition & Consumer Commission, were forced...
Read More