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Thursday December 7, 2023
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Take-Two to acquire Zynga

Publisher absorbs mobile game company in a deal worth over $12 billion

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Take-Two Interactive and Zynga today announced that they have entered into a definitive agreement, under which Take-Two will acquire all of the outstanding shares of Zynga in a cash and stock transaction valued at $9.861 per Zynga share, with a total enterprise value of approximately $12.7 billion.

Zynga’s portfolio includes titles such as CSR Racing, Empires & Puzzles, FarmVille, Golf Rival, Hair Challenge, Harry Potter: Puzzles & Spells, High Heels! , Merge Dragons!, Toon Blast, Toy Blast, Words With Friends™ and Zynga Poker.

The transaction is expected to establish Take-Two as a leader in mobile gaming, with mobile expected to comprise over 50% of its Net Bookings in Fiscal Year 2023 (as compared to an estimated 12% in Fiscal Year 2022). The transaction will bolster Take-Two’s mobile offerings, and the company says there is a meaningful opportunity to create mobile games and new cross-platform experiences for many of its existing properties that have yet to transition to mobile.

Strauss Zelnick will continue to serve as Chairman and CEO, and the management team of Take-Two will continue to lead the combined company. Additionally, Take-Two will expand its Board of Directors to 10 members upon the closing of the transaction to add two members from Zynga’s Board of Directors.

The transaction, which is expected to be completed during the first quarter of Take-Two’s Fiscal Year 2023, ending June 30, 2022, is subject to the approval of both Take-Two and Zynga stockholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.

Take-Two Interactive Software already owns two major publishing labels, Rockstar Games and 2K, which operate internal game development studios.

Take-two Zynga

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