Take-Two Interactive Is Acquiring Zynga For $12.7 Billion

Some really interesting financial news this week as Take-Two Interactive revealed they will be acquiring mobile publisher Zynga. In what will probably be one of the biggest acquisitions of 2022 (and we're not even a month into the year yet), the company plans to buy up the remaining shares and make the slow transition to bring their games to mobile. Which is going to be a massive but possibly very lucrative deal as Take-Two has studios like Rockstart Games, 2K Games, Private Division, Visual Concepts, PlayDots, Firaxis Games, Ghost Story, Cat Daddy, and more under their banner. Here's a quote from today's announcement from Take-Two CEO and chairman Strauss Zelnick.

Zynga HQ in San Francisco, CA April 13, 2019, photo by marleyPug / Shutterstock.com.
Zynga HQ in San Francisco, CA April 13, 2019, photo by marleyPug / Shutterstock.com.

"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. 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. As we combine our complementary businesses and operate at a much larger scale, we believe that we will deliver significant value to both sets of stockholders, including $100 million of annual cost synergies within the first two years post-closing and at least $500 million of annual Net Bookings opportunities over time."

It wasn't said outright in any of the information provided, but the company would be foolish to pass up on bringing Grand Theft Auto Online over to Andoird and iOS devices. We'd be shocked if it wasn't the first thing on their minds to eventually launch with GTA6 whenever that game comes out. According to the info, the transaction is scheduled to be completed by Q1 2023.

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About Gavin Sheehan

Gavin is the current Games Editor for Bleeding Cool. He has been a lifelong geek who can chat with you about comics, television, video games, and even pro wrestling. He can also teach you how to play Star Trek chess, be your Mercy on Overwatch, recommend random cool music, and goes rogue in D&D. He also enjoys hundreds of other geeky things that can't be covered in a single paragraph. Follow @TheGavinSheehan on Facebook, Twitter, Instagram, and Vero, for random pictures and musings.
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