Take-Two Interactive has finalized its acquisition of Zynga in a deal valued at 12.7 billion. The deal was announced in January and is currently the largest corporate gaming merger in history, behind Microsoft’s Activision Blizzard deal for $68.7 billion, assuming that goes through. Sony and Embracer Group are two other companies that have made big acquisitions over the last two years. Zynga shareholders have been given $3.50 and 0.0406 Take-Two shares for every share they own.
“We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities,” said Strauss Zelnick, Chairman, and CEO of Take-Two. “As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality. Each of our teams has a strong history of operational execution, and together, we expect that we will enhance our financial profile through greater scale and profitability, paving the way for us to deliver strong shareholder value.”
“We are excited for Zynga’s next-generation mobile platform, free-to-play expertise, diverse offering of games and incredible team to join the Take-Two family,” said Frank Gibeau, CEO of Zynga. “We are eager to continue building an unparalleled portfolio of games that will reach broader markets and lead to continued growth for this next chapter of Zynga’s history.”