News

Take-Two Completes the Acquisition of Zynga

Until the Microsoft acquisition of Activision Blizzard settles, this is one of the biggest acquisitions in the gaming industry. The two giants, Take-Two and Zynga will merge powers as the $12.7 billion acquisition settles.

Take-Two, one of the largest video game publishers in existence with properties like Grand Theft Auto and BioShock, has likely seen an opportunity to get into mobile gaming. At their investor presentation, they announced that they plan to bring more Take-Two games onto different platforms through partnerships between themselves and Zynga so players can have access no matter their preferred device or platform.

According to the official press release:

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) and Zynga Inc. (NASDAQ: ZNGA), two leaders in interactive entertainment, announced today that the stockholders of each organization have approved all proposals related to Take-Two’s combination with Zynga at each company’s respective Special Meeting of Stockholders. As a result, the closing of the business combination is expected to occur on May 23, 2022 before market open, subject to the satisfaction of the remaining customary closing conditions. Shares of Zynga will cease trading after the market close on May 20, 2022, and following the closing, Zynga will no longer be listed on the NASDAQ exchange.

“We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities. As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality” said Zelnick.

This acquisition could open other doors for the already successful GTA franchise and its coming sequel. Zynga and its knowledge in mobile entertainment could provide a handful of resources and expertise to improve the quality of the next GTA title and maybe shuffle the usage of the mobile platform into it.

Take-Two’s acquisition of Zunga is considered to be one of the biggest headlines in the gaming industry, at least until we see the entire purchase of Activision Blizzard. The deal between these giants is expected to close up until 2023.

Hello, fellow readers! If you want to get in touch with us and participate in our discussion boards, make sure you visit our Forums. We are more than sure you will find something useful there! The forum is new, so be among the first ones to say Hello!

If you are a video game developer and you have a submission to make, you can mail us at team@futuregamereleases.com

Amie Gammons

A huge fan of puzzlers. Would love to experience the world and takedown on every single and upcoming game title. In the free time love to sing, follow recent game rumors and try to decrypt them in the best possible way.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button