Take Two Interactive Acquires Zynga for a Whopping $12.7 Billion

Take-Two Interactive has completed its acquisition of Zynga, the mobile game firm behind the popular Facebook game FarmVille. Take-Two stated on January 10 that it would buy Zynga for $12.7 billion in order to grow into the mobile gaming sector. The merger was completed without a hitch on Monday, with the firm successfully merging its gaming library with Zynga’s entire library of mobile games, including FarmVille and Words with Friends, which have been downloaded over 4 billion times.

Take-Two CEO and Chairman Strauss Zelnick said the deal was necessary for the firm to expand its mobile gaming portfolio and earn more money with Zynga’s expertise. In a news release, he said,

We believe we can take our portfolio to another level of creativity, innovation, and quality as we bring together our excellent personnel, fascinating game pipelines, and industry-leading technologies and capabilities.

On the other hand, the CEO of Zynga said,

We are excited for Zynga’s next-generation mobile platform, free-to-play capabilities, varied range of games, and fantastic staff to join the Take-Two family. We’re excited to keep producing an unrivaled portfolio of games that will reach new markets and propel Zynga forward in the next chapter of its history.

Take Two Acquires Zynga for a Whopping $12.7 Billion

When Take-Two announced to purchase of Zynga, it was considered the most costly acquisition in the gaming business. However, one week later, Microsoft dropped a bombshell with its ambitions to buy Activision Blizzard for $68.7 billion, which was entirely coincidental given the tumultuous circumstances surrounding such a merger.

Zynga stockholders got $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock under the terms of the agreement.

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