Take-Two Interactive today announces it has reached an agreement to acquire mobile developer Zynga (best known for the Farmville, Zynga Poker and CSR Racing series) for $12.7 billion USD. According to Take-Two CEO Strauss Zelnick:
"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. Zynga also has a highly talented and deeply experienced team, and we look forward to welcoming them into the Take-Two family in the coming months."
The sticker price includes $11.04 billion in a cash-and-stock deal; once the purchase of outstandings shares and debt are factored in, the acquisition value reaches $12.7 billion. This acquisition will be the largest yet seen in the industry, easily topping the $8.6 billion that Tencent offered Supercell back in 2016.
Take-Two has no doubt reasoned that the opportunity to add Zynga's franchises to its own portfolio of titles will an important step forward in furthering its mobile gaming ambitions. The deal is expected to close some time during Take-Two's first fiscal quarter of 2023, which ends in the first half of this calendar year.