Mobile game

Take-Two acquires mobile gaming giant Zynga for $12.7 billion

PC gaming giant Take-Two has announced that it is making a big move into mobile gaming with the acquisition of Zynga for a total price of around $12.7 billion. Take-Two already owns Rockstar Games and 2K, producing games like Grand Theft Auto, Red Dead Redemption, Bioshock and others. Zynga, on the other hand, produces well-known mobile titles like CSR race, FarmCity, and Words between friends.

Take-Two said the deal will result in $6.1 billion in pro forma net bookings over 12 months, meaning it will become one of the largest gaming companies in the world. “This strategic combination brings together our best console and PC franchises, with a diverse, market-leading mobile publishing platform that has a rich history of innovation and creativity,” said Strauss Zelnick, President and CEO. by Take-Two. The deal will also help Take-Two save about $100 million a year after two years.

Zynga itself has been on a slew of acquisitions lately, having acquired the studio behind Torchlight 3 at the start of last year. Zynga has sometimes relied on acquisitions to find the hottest games in the notoriously volatile mobile gaming market. Still, Take-Two said the mobile phone industry booked $136 billion in 2021 and is currently growing more than 8%, so the money is there. Mobile will now account for half of its net reservations (net amount of products and services sold digitally or physically), the company said.

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