Game power: Grand Theft Auto maker buys FarmVille maker | New entertainment

The acquisition of Zynga by Take Two is the latest deal to build and expand mobile gaming studio wallets across the industry.

Take-Two Interactive, the founder of Grand Theft Auto, the founder of Farmville and Words with Friends, is buying Zynga for $ 12.7 billion in cash and a share agreement, the company said Monday.

The aim of the shopping is to take advantage of the rise of mobile gaming, bringing together Take-Two’s expert in console games and Zynga’s big fan of round-trip gaming.

Take-Two, also known as Red Dead Redemption, offered $ 9.86 per share, a 64 percent premium over Zynga’s recent closing price. By mid-morning on Monday, Zynga’s shares had risen nearly 46 percent to $ 8.75 already. Take-Toro fell more than 14 percent.

“This strategic combination brings together our best consoles and computer franchises with a market-leading diversified mobile publishing platform with a rich history of innovation and creativity,” Take-Two CEO Strauss Zelnick said in a news release. statement.

Take-Two’s acquisition of Zynga will help him play the most cult-like followers of the latest company among the players.

“Combining Zynga’s experience in mobile and our next-generation platforms is one of the best capabilities of Take-Two and the opportunity to trade with intellectual property for our industry,” Zynga’s Twitter profile said Monday morning.

Video games have seen a huge increase in demand during the days of the coronary virus pandemic blockade and reduction, with millions of people stuck to their TVs doing nothing else at home, playing sessions, movies or video games. With restrictions removed, people continue to play video games, but now, anywhere, on mobile devices.

Take-Two / Zynga agreement Electronic Arts follows Glu Mobile’s $ 2.4 billion purchase last year.

Take-Two said Monday it expects to save about $ 100 million in the first two years after the deal is finalized, and more than $ 500 million in revenue over time.

The gaming company is expected to grow its board to 10 members after the deal is passed, adding two members to Zynga’s board.

The transaction includes a go-shop supply, which gives Zyngari 45 days to listen to other plays.

According to the company, the deal will close in the first quarter of 2023 in Take-Toro, ending on June 30.

Following the approval of the boards of Take-Two and Zynga, the agreement is expected to give the green light to the shareholders of the two companies.