Take-Two completed its acquisition of Zynga in January, paying $3.50 in cash and 0.0406 shares of its own common stock for each Zynga share. The deal has received regulatory and shareholder approval, and is now in effect.
Zynga’s next-generation mobile platform, free-to-play expertise, diverse offering of games, and talented team have joined the Take-Two family. Zynga’s Chief Executive, Frank Gibeau, expressed enthusiasm for building an unparalleled portfolio of games that will reach broader markets and drive continued growth.
Take-Two’s Chairman and CEO, Strauss Zelnick, stated that the acquisition would enhance their focus on mobile gaming, the fastest-growing segment in interactive entertainment. The deal is expected to bring substantial cost synergies, revenue opportunities, and an increase in net bookings from mobile.
The combination of Take-Two and Zynga’s exceptional talent, exciting pipeline of games, leading technologies, and operational execution is believed to elevate the portfolio to another level of creativity, innovation, and quality. This will pave the way for greater scale, profitability, and ultimately, strong shareholder value.
