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Take-Two Interactive acquires mobile gaming giant Zynga

The company officially completed Zynga's acquisition.

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Mumbai: Take-Two Interactive Software has recently announced that it has completed the acquisition of mobile game giant Zynga at $12.7 billion. The deal was first announced in January and Take-two will own Zynga's popular games like Farmville and Words with friends.

The merger agreement reads Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.

Take-Two Interactive software's chairman and CEO Strauss Zelnick said, “We are thrilled to complete our combination with Zynga, which is a pivotal step to exponentially increase our net bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities. 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.”

Zynga CEO Frank Gibeau speaks about the company's focus on mobile gaming, where it intends to expand. He said, “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. 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.”

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