Take-Two Interactive, owner of 2K Games and Rockstar, announced that it has reached an agreement to acquire mobile game (Farming Farm) giant Zynga. After buying a bunch of Zynga stock in the past, Take-Two has stepped up its efforts to buy the company for a truly eye-watering $12.7 billion.
Via press release , Take-Two acquired Zynga stock by combining actual funds and Take-Two’s own stock, facilitated the transaction. The article mentions that Zynga’s stock is valued at $9.86 per share, and taking into account the terms of the acquisition, Zynga shareholders will receive $3.50 per share in cash and $6.36 in Take-Two stock.
Commenting on the acquisition, Take-Two Chairman and CEO Strauss Zelnick said: “We are pleased to announce this transformative transaction with Zynga, which greatly enriches our business and established our leadership in the fastest growing mobile segment in interactive entertainment. This strategic combination combines our best-in-class console and PC franchises with a market-leading, diverse mobile portfolio of innovation and creativity Issuing platforms combined.”
With a deal of this size, it’s just an agreement to acquire Zynga, which means it won’t be in the first quarter of Take-Two’s fiscal year It will be completed and officially effective before the end of June 30, 2022. Assuming the deal is approved by then, it would be the largest acquisition in gaming history, beating Tencent’s $8.6 billion purchase of Supercell and Microsoft’s $7.5 billion acquisition of ZeniMax Media.
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