Their titles include 'Grand Theft Auto,' 'NBA 2K,' 'FarmVille,' 'Words With Friends' and 'Zynga Poker.'
Video game company Take-Two Interactive has agreed to acquire mobile gaming powerhouse Zynga, the companies said on Monday.
Take-Two, led by chairman and CEO Strauss Zelnick, will acquire all of the outstanding shares of Zynga in a cash and stock transaction valued at $9.861 per Zynga share, based on the market close as of Jan. 7, “with a total enterprise value of approximately $12.7 billion.” The companies said: “Under the terms and subject to the conditions of the agreement, Zynga stockholders will receive $3.50 in cash and $6.361 in shares of Take-Two common stock for each share of Zynga common stock outstanding at the closing of the transaction. The purchase price represents a premium of 64 percent to Zynga’s closing share price on Jan. 7.”
Calling the deal a “transformative combination,” the companies said it will merge “two global leaders in the interactive entertainment business and establishes Take-Two as one of the largest and most diversified mobile game publishers in the industry, with $6.1 billion in pro-forma net bookings for the trailing 12-month period ended September 30.”
Take-Two’s labels are home to some of the most popular gaming series, including Grand Theft Auto, Red Dead Redemption, Midnight Club, NBA 2K, BioShock, Borderlands, Civilization, Mafia and Kerbal Space Program, while Zynga’s portfolio includes such titles as CSR Racing, Empires & Puzzles, FarmVille, Golf Rival, Harry Potter: Puzzles & Spells, Words With Friends and Zynga Poker.
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