Take-Two buys Zynga for a total of $ 12.7 billion

Take-Two Interactive y Zynga has announced that it has entered into an agreement for Take-Two to take over all transactions in circulation from Zynga to a total value of approximately $ 12.7 billion. Under the terms and conditions of the agreement, Zynga shareholders will receive $ 3.50 in effect and $ 6,361 in ordinary Take-Two transactions for each ordinary Zynga transaction circulating at the close of the transaction. The purchase price represents an average of 64% compared to the closing price of Zynga’s shares on January 7, 2022.

This game places Take-Two as one of the largest and most diverse mobile game editors in the industry with $ 6.1 billion in net surplus reserves for the twelve-month period ending September 30, 2021.

Ambas companies have created and expanded technical franchises, which together will form one of the largest and most diverse registrations of intellectual property in the sector.

Strauss Zelnick, President and CEO of Take-Two commented:

We are pleased to announce our transformer transaction with Zynga, which will significantly diversify our business and establish our leading position in the mobile, the fastest growing segment of the interactive entertainment industry. This strategic combination is already one of our best franchises for consoles and PCs, with a publishing platform for diversified mobile and a market leader who has a rich history of innovation and creativity. Zynga also has a team of great talents and experiences, and we want to welcome the Take-Two family in the coming months. To the extent that we combine our complementary businesses and operate on a much larger scale, we believe we will offer significant value to both groups of shareholders, including $ 100 million in annual cost synergies within the first two years after completion. dollars in annual net savings over time.

Frank Gibeau, CEO of Zynga added:

The combination of Zynga’s experience on mobile and next generation platforms with the best capabilities and intellectual property rights from Take-Two will allow us to go even further in our mission to connect the world through games when we can achieve significant and synergistic in combination. I am proud of our team’s hard work to offer a final strength in 2021, with one of the best results in Zynga’s history. We are incredibly pleased to have found a partner in Take-Two who shares our commitment to investing in our players, enhancing our creative culture and creating more value for the players. With this transformative transaction, we begin a new journey that will allow us to create even better games, reach a larger audience and achieve significant growth as a leader in the next era of the game.

Related Posts

Leave a Reply

Your email address will not be published.