HHW Gaming: Take-Two Interactive Dropping $12.7 Billion Bag On 'Farmville' Creator Zynga


HHW Gaming: Take-Two Interactive Dropping $12.7 Billion Bag On 'Farmville' Creator Zynga

Source: SOPA Images / Getty

Grand Theft Auto and Farmville will now be under one umbrella once this deal goes through.

Per IGN, Rockstar, and 2K games parent company, Take-Two Interactive is set to acquire popular mobile game developer Zynga. The deal is reportedly worth $12.7 billion and, when it is completed is poised to be bigger than Microsoft's acquisition of Bethesda. 

With an agreement in place, Take-Two looks to expand its mobile gaming portfolio by adding games like Words With Friends, CSR Racing, Harry Potter: Puzzles and Spells. Zynga is also developing Star Wars Hunters, a new game for the Nintendo Switch set for a 2022 release. Bloomberg reporter Jason Schreier hints the deal could see the arrival of Rockstar Games' big franchises like GTA and Red Dead Redemption arriving on mobile platforms. He also believes a free-to-play iOS version of GTA Online would be a cash cow for the game studio.

The press release confirms Take-Two completed the deal by purchasing Zynga stock shares, using cash and some of its stock. As for the terms of the agreement, Zynga shareholders will receive $3.50 in cash plus $6.36 worth of Take-Two common stock, seeing Zynga's share increase to $9.86.

"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," Strauss Zelnick, Chairman, and CEO of Take-Two, said. "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."

We are looking forward to seeing what fruits this deal bears.


Photo: SOPA Images / Getty

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via: https://hiphopwired.com/1100989/take-two-interactive-acquiring-zynga-details/

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