Take-Two Interactive Set To Acquire Zynga For A Massive $12.7 Billion
Take-Two Interactive is set to acquire Zynga (yes, from Farmville) in what could be the biggest acquisition deal in the industry, dwarfing the megaton Microsoft-Bethesda deal from 2020.
Announced through a press release on Business Wire, Take-Two Interactive is splashing a cool $12.7 Billion to acquire the mobile giant, which is a full $5 Billion and change more than the Bethesda acquisition. Given that the deal pushes through, which will take about a month and a half pending reviews, it’ll be quite the acquisition for T2.
“We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, the fastest growing segment of the interactive entertainment industry,” said Strauss Zelnick, Chairman and CEO of Take-Two. “This strategic combination brings together our best-in-class console and PC franchises, with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity. Zynga also has a highly talented and deeply experienced team, and we look forward to welcoming them into the Take-Two family in the coming months.”
“Combining Zynga’s expertise in mobile and next-generation platforms with Take-Two’s best-in-class capabilities and intellectual property will enable us to further advance our mission to connect the world through games while achieving significant growth and synergies together,” said Frank Gibeau, CEO of Zynga. “With this transformative transaction, we begin a new journey which will allow us to create even better games, reach larger audiences and achieve significant growth as a leader in the next era of gaming.”
It’ll be interesting to see what will come of this deal, especially with Zynga’s mobile expertise.