Take-Two Interactive announced on Monday that it has completed its $12.7 billion acquisition of Zynga. Under the terms of the merger agreement, Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.
The deal was first announced in January.
“We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities,” said Strauss Zelnick, Chairman and CEO of Take-Two.
“As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality. Each of our teams has a strong history of operational execution, and together, we expect that we will enhance our financial profile through greater scale and profitability, paving the way for us to deliver strong shareholder value.”
With the acquisition of Zynga, Take-Two Interactive has made a total of 12 acquisitions to date, including Barking Dog Studios, TDK Mediactive, Mobius Entertainment, Firaxis Games, Irrational Games, Social Point, Kerbal Space Program, Playdots, Nordeus and Dynamixyz.
“We are excited for Zynga’s next-generation mobile platform, free-to-play expertise, diverse offering of games and incredible team to join the Take-Two family,” said Frank Gibeau, CEO of Zynga. “We are eager to continue building an unparalleled portfolio of games that will reach broader markets and lead to continued growth for this next chapter of Zynga’s history.”