The Grand Theft Auto publisher Take-Two Interactive has officially acquired Zynga, both parties have finally confirmed the completion of the acquisition as of May 23, 2022. Take-Two’s acquisition of Zynga is valued at approximately $12,7 billion.
Per the official statement by both companies, “Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.”, the acquisition also means worldwide popular mobile games such as CSR Racing, Dragon City, Empires & Puzzles, FarmVille, Harry Potter: Puzzles & Spells, Zynga Poker and many others now belong to Take-Two Interactive.
Take-Two’s CEO Strauss Zelnick said:
“We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities. As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality. Each of our teams has a strong history of operational execution, and together, we expect that we will enhance our financial profile through greater scale and profitability, paving the way for us to deliver strong shareholder value.”
Zynga’s CEO Frank Gibeau also spoke about the shareholder approval, saying the following:
“We are eager to continue building an unparalleled portfolio of games that will reach broader markets and lead to continued growth for this next chapter of Zynga’s history.”
Bernard Kim, who’ll leave Zynga at the end of May 2022, will oversee Take-Two’s acquisition of Zynga, alongside Gibeau.
