Take-Two stated Monday it’s shopping for Zynga in a cash-and-stock deal valued at $12.7 billion, together with debt. The deal values Zynga at $9.86 a share.
The deal provides Take-Two an even bigger presence within the profitable world of cell gaming, increasing its enterprise past the console and PC video games it’s primarily identified for, together with NBA 2K, Red Dead Redemption and the GTA sequence.
“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,” stated Strauss Zelnick, Take-Two’s chairman and CEO, in a press release.
For Zynga, the takeover provides the corporate a deeper pocketed father or mother within the gaming enterprise that may assist it develop.
Zynga hopes the merger with Take-Two will result in extra progress alternatives.
“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,” stated Zynga CEO Frank Gibeau in a press release.