Grand Theft Auto franchise, just announced the acquisition of Zynga, a mobile game developer. Take Two, which is known for its PC and console game brands, has made an unexpected acquisition, and the sum it paid for it is astronomical. Take Two will buy all of Zynga’s shares for $9.86 per share in cash and stock, for a total enterprise value of around $12.7 billion, according to the official release.
In a $ 12.7 billion transaction, GTA publisher acquires GTA, a mobile gaming giant
Strauss Zelnick will remain chairman and CEO, while the management team of Take Two will continue to lead the combined company. Zynga’s Frank Gibeau and Bernard Kim will lead the strategic direction for Take Two’s mobile efforts. Additionally, Take Two will expand its Board of Directors to 10 members to add two members from Zynga’s Board of Directors.
It looks like the deal is meant to establish Take Two as a leader in mobile gaming. Also, Take Two hopes to boost the popularity of its mobile offerings, which include games like Dragon City, Monster Legends, Top Eleven, Two Dots, and WWE SuperCard. More importantly, the acquisition of Zynga will allow Take Two to make new mobile game for many of its iconic franchises. Last but not least, Take Two plans to use Zynga’s Chartboost advertising platform, which is meant to improve new user acquisition via better audience targeting.
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