GTA Maker Take-Two Buys Zynga of FarmVille Fame in $12.7 Billion Deal


Take-Two Interactive, makers of Grand Theft Auto and Red Dead Redemption, is buying Zynga, makers of FarmVille and Words With Friends, in a cash and stock deal with an enterprise value of about $12.7 billion (about Rs 94,030 crore). ,

Jinga Shareholders will receive $3.50 (approximately Rs 260) in cash and $6.36 (approximately Rs 470) in shares. take two common stock for each share of Zynga outstanding stock at closing.

Take-Two on Monday said it anticipates $100 million (about Rs 740 crore) in annual cost savings.

The deal is expected to close during the first quarter of Take-Two’s fiscal 2023, ending June 30. It still requires approval from both Take-Two and Zynga stockholders.

Shares of San Francisco-based Zynga jumped 52 percent to $9.14 (about Rs 680). Shares of New York City-based Take-Two Interactive Software fell more than 8 per cent to $150.66 (about Rs 11,160).

“Combining Zynga’s expertise in mobile and next-generation platforms with Take-Two’s best-in-class capabilities and intellectual property allows us to simultaneously achieve significant growth and synergy through games,” it said in a statement. Will enable us to pursue our mission of connecting the world.” On the announcement from Take-Two Interactive.

The company said the transaction is expected to establish Take-Two as a leader in mobile gaming, with mobile expected to comprise more than 50 percent of its net bookings in FY2023 (FY2022). compared to the estimated 12 percent in


Get the latest from the Consumer Electronics Show at Gadgets 360, our CES 2022 Hub.

,