As of the 26th of May, 2022, Take-two interactive software, Inc. has announced that the merger with Zynga Inc. has been completed. Under the terms of the merger deal, Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock for each share of Zynga common stock.
Chairman and CEO of Take-two, Strauss Zelnick , has expressed his excitement about this new venture that both companies have collectively set off on. He states that this is a pivotal step to exponentially increase their Net Booking from mobile devices, as it is considered the fastest-growing interactive entertainment segment. This partnership will also provide Take-two with the required revenue opportunities and substantial cost synergies. He added that combining the exceptional talent from both companies would enable them to create more exciting games and industry-level capabilities and technology. This partnership will significantly benefit both parties involved in terms of innovation, quality, and creation. Zelnick has stated that both companies have an excellent track record of operational execution. Together, they will be about to considerably scale up the financial profile, thereby paving the way to involve more reported stakeholders and deliver more substantial shareholder value.
The CEO of Zynga, Frank Gibeau , also added some comments. He, too, expressed his excitement about this joint venture and stated that they look forward to building free-to-play expertise, a next-generation mobile platform and diverse offerings of games alongside Take-two. In addition, they aim to develop and create an unparalleled portfolio of games that would enable both enterprises to broaden their markets and continue their growth.
About Take-two
Take-two Interactive software, Inc. is based in New York City, United States. Ryan Brant launched the company in 1993. The company specializes in the publishing, distribution and development of interactive entertainment. It has partnered up with companies like 2K, Private Division, Rockstar games and T2 Mobile Games. The products designed by the company can be accessed on console gaming systems, mobile devices and personal computers. The common stock of the company is traded on NASDAQ under the name TTWO.
About Zynga
Headquartered in San Francisco, California, Zynga is a mobile game developer. It was founded in 2007 by Andrew Trader, Justin Waldron, Mark Pincus, Eric Schiermeyer and Steve Schoettler. The goal of Zynga is to create, develop and operate social games that can be played live on the internet, social media networking platforms and mobile devices. So far, the company's value is estimated to be over USD 8 billion. The games offered by the company are published in partnership with Slots, Words with Friends, Zynga Poker and Farmville franchises. The company's games can be accessed on mobile devices. So far, the company has managed to reach and set bases in more than 175 countries. The diverse portfolio of games created by the company has been downloaded over 5 million times on mobile devices. Some of their games include- Dragon City, Harry Potter- Puzzles and spells, Merge Dragons, Merge Magic, Top Eleven, Two Dots, Words with friends and many more. With Chartboost, a premier mobile advertising and monetization platform, Zynga is also an industry-leading next-generation platform with the capacity to optimize programmatic advertising and yields at scale.
