Home LATEST NEWS HIGH TECH Giant Take-Two, behind GTA series, buys developer Zynga

Giant Take-Two, behind GTA series, buys developer Zynga

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The American video game publisher Take-Two Interactive, behind the Grand Theft Auto (GTA) series, announced on Monday that it had reached an agreement to acquire the developer of FarmVille, Zynga, an icon of mobile games which has been going through difficult times in recent years. The purchase is valued at US $ 12.7 billion (C $ 16.1 billion).

This strategic combination unites our best console and PC series with a premier and diverse mobile gaming platform that has a rich history of innovation and creativity.Take-Two CEO Strauss Zelnick said in a statement.

Developer and publisher, New York-based Take-Two is a heavyweight in the video game industry and owns successful series like Bioshock, Grand Theft Auto (GTA) and NBA 2K basketball games.

Mobile games, less prestigious, but popular

Zynga, headquartered in San Francisco, has made a name for itself through mobile games, mainly the agricultural simulation title. FarmVille, which was hugely successful on Facebook in the early 2010s.

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Despite other popular successes (CSR Racing, Words With Friends, Zynga Poker) and adaptations of the universe of Harry Potter and Game of Thrones in puzzle games (puzzle) or casino, the company has declined in popularity and prestige in recent years.

In 2021, Zynga’s stock fell 54% on the stock market.

On Monday, its stock soared nearly 50% at the NASDAQ in electronic trading preceding the opening of Wall Street. Take-Two’s was down about 10%.

Combining Zynga’s expertise in mobile and next-gen platforms with Take-Two’s strike force and intellectual property will allow us to go even further in our mission to connect the world through games, while succeeding. to generate growth and synergies togetherZynga boss Frank Gibeau said.

The transaction, which is due to be finalized between April and June, is to be completed through Take-Two’s buyback (in cash and securities) of Zynga shares, priced at US $ 9.86 (CA $ 12.51). per share, which is almost 65% more than their value before the announcement.

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