Monday, May 23rd, 2022

GTA Publisher Take-Two Buys Farmville Giant Zynga for $ 12.7 Billion

Take-Two Interactive Software has acquired Zynga in a $ 12.7 billion transaction, the two companies confirmed on Monday, January 10. That huge amount includes Take-Two paying $ 9.86 per share and Zynga’s debt to enter the mobile market.

This transaction is currently the largest amount paid for an acquisition. History of the video game industryIt outperforms Microsoft’s $ 7.5 billion acquisition of Bethesda in 2020 and Tencent’s acquisition of Bethesda in 2016. Clash of Clans Studio Supercell is $ 8.6 billion. Activision Blizzard made a similar deal when it was purchased in 2015 Candy Crush Developer King is $ 5.9 billion.

Zynga’s most famous games are: Farmville When Words with friends, but The farm building was completely closed in December 2020.. Take-Two — the third largest gaming company in the west after Activision Blizzard and EA — owns new studio Ghost Story Games from 2K, Rockstar and Ken Levine, so it’s big for Bioshock, Borderlands, XCOM, Grand and more. I am in charge of the series. Theft Auto.

Zynga is also developing Star Wars: Hunters, which will be available on Switch this year.

Strauss Zelnick, Chairman and CEO of Take-Two, said in an official statement about the deal:

“We are pleased to announce a transformative deal with Zynga, which will significantly diversify our business and establish our leadership position in mobile, the fastest growing segment of the interactive entertainment industry. . “

Frank Gibeau, CEO of Zynga, expressed the following emotions:

“Combining Zynga’s expertise in mobile and next-generation platforms with Take-Two’s best-in-class features and intellectual property to further advance our mission to connect the world through gaming for significant growth and synergies. can do.”

Sure, it’s a buzzword for many businesses, but the general sentiment is that T2 is trying to diversify its portfolio with mobile games. Bring your core franchise to mobile.. What Zynga has is harmless Poker’s profitable line, that too.

If you really love the story of the company Here are the complete statements from the two companies..

idea? What is your favorite business term? Let us know in the comments!