Take-Two Interactive Completes Acquisition of Mobile Game Developer Zynga

Video game publisher Take-Two Interactive, which has published successful video games such as the Grand Theft Auto, WWE and NBA series developed by its studios, announced Thursday that it has completed its acquisition of mobile game developer Zynga.

Under terms of the agreement, Zynga shareholders received $3.5 in cash and 0.0406 Take-Two shares for each Zynga share, a press release said Thursday.

Strauss Zelnick, President and CEO of Take-Two, said this is “a crucial step in exponentially increasing our net bookings from mobile, the fastest growing segment of the interactive entertainment”.

“We believe we can take our portfolio to another level of creativity, innovation and quality,” Zelnick added in the release.

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Zynga CEO Frank Gibeau said the merger will allow the developer to “continue to build an unprecedented portfolio of games that will reach broader markets.”

“We are thrilled with Zynga’s next-generation mobile platform, free-to-play expertise, diverse game offerings and incredible team to join the Take-Two family,” said Gibeau.

Take-Two owns legendary game studios such as Rockstar Game (Grand Theft Auto, Red Dead Redemption series), 2K (WWE, NBA, etc.), Private Division (Hades, The Outer Worlds) and now, Zynga.

“Our products are currently designed for console, PC and mobile gaming systems, including smartphones and tablets, and are delivered via physical retail, digital download, online platforms and cloud streaming services. “Take-Two said in the statement.