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Take-Two hands on mobile app developer Zynga

Take-Two hands on mobile app developer Zynga


After losing 35% of its value in 2021, Zynga shareholders took home an impressive $12.7 billion grand prize today from publisher Take-Two Interactive for popular mobile app developer Zynga.

Offer represents an added value of 64% compared to Friday’s close. The transaction is valued at $9.86 per share, while the stock is trading around $8.60 at the time of writing.

Zynga

In addition to Zynga’s very popular Farmville, this acquisition brings gaming wallet like mobile CSR RaceAnd Empires and puzzlesAnd Dragon Merge And Harry Potter: Riddles and Spells To that of Take-Two.

The deal is expected to close in Take-Two’s first fiscal quarter of 2023, which ends on June 30, 2022.

Zynga

Two catalogs that complement each other

this is Transaction It is the most important thing that was reached between the two parties. It’s before Tencent’s acquisition of Supercell in 2016 for $8.6 billion and Microsoft’s acquisition of ZeniMax, Bethesda’s parent company, for $7.5 billion in 2020.

Take-Two’s acquisition of Zynga will allow the latter to acquire a publisher and a team of talented and experienced mobile games, while the buyer’s catalog consists primarily of games for consoles and PC.

Upcoming joint projects

This acquisition refers to game modifications on other platforms, for example, games on PC or consoles will be available in the mobile version.

In the presentation by CEO of Take-Two, Strauss Zelnick highlighted the beautiful integration of the respective catalogs and the way the two companies can ideally work hand in hand.

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Many fans will be especially happy with the list of Take-Two games, such as Grand Theft AutoAnd Red Dead RedemptionAnd bioshock And mafia Which can be adapted to mobile platforms as well as adding new game modes.

Take-Two Interactive. interactive

In a question period, the CEO pointed to the doubling of capacity (with Zynga)—both from a development and publishing perspective—to improve the creation of new titles based on major Take-Two games that are not fully exploited on mobile and free-to-play game models (Free to play) on a global scale.

Without specifying which titles will be re-released in the mobile version, the CEO stated that “it will take some time before seeing these projects announced or published”.

Even before the Zynga acquisition, Take-Two Interactive expects the number of titles to grow exponentially, with roughly 19 games scheduled over the next three years, according to IGN.