{"id":197513,"date":"2022-01-10T10:01:00","date_gmt":"2022-01-10T18:01:00","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=197513"},"modified":"2022-01-10T13:27:52","modified_gmt":"2022-01-10T21:27:52","slug":"take-two-acquiring-zynga-in-epic-mobile-gaming-transaction","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/","title":{"rendered":"Take-Two Interactive Scoops Up ‘FarmVille’ Maker Zynga for $12.7B"},"content":{"rendered":"

Video game producer Take-Two Interactive (NASDAQ:TTWO) is acquiring mobile games maker Zynga Inc. (NASDAQ:ZNGA) in a transaction carrying an enterprise value of $12.7 billion.<\/p>\n

\"Take-Two
A scene from “Grand Theft Auto Online.” Producer Take-Two is acquiring Zynga in a massive mobile gaming deal. (Image: YouTube)<\/figcaption><\/figure>\n

The cash and equity deal values the \u201cFarmVille\u201d producer at $9.86 a share — a more than 64 percent premium to where the stock closed on Jan. 7.<\/p>\n

Under the terms and subject to the conditions of the agreement, Zynga stockholders will receive $3.50 in cash and $6.36 in shares of Take-Two common stock for each share of Zynga common stock outstanding at the closing of the transaction,\u201d<\/strong> according to a statement issued by both companies.<\/p><\/blockquote>\n

The acquisition is scheduled to close during Take-Two’s fiscal first quarter, which ends on June 30. The boards of both companies approved the takeover, but the agreement contains a 45-day “go-shop” provision. That permits Zynga to solicit a higher offer from another suitor up to Feb. 24.<\/p>\n

For Take-Two, Zynga Buy Is About Scale<\/h2>\n

Take-Two, the publisher of the popular Grand Theft Auto<\/em>\u00a0franchise, among others, is bolstering its footprint in the fast-growing mobile games space<\/a> with the acquisition of Zynga.<\/p>\n

Data confirms mobile gaming is expanding at a rapid pace. With more than 2.7 billion gamers playing monthly and 10 million developers around the world, the industry is now larger than some traditional entertainment forms, including books, movies, and music, and mobile gaming is driving that growth.<\/p>\n

\n

Take-Two is forecasting $100 million in cost savings<\/a> in two years after the purchase is finalized, and at least $500 million worth of \u201cannual net bookings opportunities over time.\u201d While the buyer currently has a solid portfolio of mobile games, the purchase of Zynga will elevate mobile to 50 percent of net bookings in fiscal 2023, up from 12 percent in fiscal 2022.<\/p>\n<\/div>\n

\u201cLooking ahead, the combined company is expected to deliver a 14 percent compound annual growth rate for net bookings (excluding the annual net bookings opportunities and any future acquisitions) over the three-year period from Take-Two\u2019s fiscal years 2021 through 2024,\u201d according to the statement.<\/p>\n

In addition to \u201cFarmVille,\u201d San Francisco-based Zynga also produces CSR Racing, Golf Rivals, Words with Friends <\/em>and Zynga Poker,<\/em> among others. Take-Two also publishes Borderlands, NBA2K<\/em> — the iconic basketball video game — and the Red Dead Redemption <\/em>series.<\/p>\n

Stock Reaction<\/h2>\n

Not surprisingly, shares of Zynga are getting a massive boost on the takeover news. In midday trading, the stock is up 44.25 percent on volume that’s more than nine times the daily average, trading at its highest levels since last August.<\/p>\n

That easily makes Zynga the best-performing name on what’s an otherwise dismal day for gaming equities.<\/p>\n

Along those lines, residual benefits of the Take-Two\/Zynga news aren’t yet accruing to other members of the mobile gaming space. That’s although some have previously been mentioned<\/a> as potential takeover targets. Last year, Take-Two rival Electronic Arts (NASDAQ:EA) acquired Glu Mobile for $2.4 billion, signaling more mobile gaming deals could be on the way.<\/p>\n","protected":false},"excerpt":{"rendered":"

Video game producer Take-Two Interactive (NASDAQ:TTWO) is acquiring mobile games maker Zynga Inc. (NASDAQ:ZNGA) in a transaction carrying an enterprise value of $12.7 billion. The cash and equity deal values the \u201cFarmVille\u201d producer at $9.86 a share — a more than 64 percent premium to where the stock closed on Jan. 7. Under the terms […]<\/p>\n","protected":false},"author":46,"featured_media":197514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,20],"tags":[],"acf":[],"yoast_head":"\nTake-Two Acquiring Zynga In Epic Mobile Gaming Transaction<\/title>\n<meta name=\"description\" content=\"Take-Two Interactive is boosting its mobile games exposure in a major way through $12.7 billion Zynga acquisition.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Take-Two Acquiring Zynga In Epic Mobile Gaming Transaction\" \/>\n<meta property=\"og:description\" content=\"Take-Two Interactive is boosting its mobile games exposure in a major way through $12.7 billion Zynga acquisition.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-10T18:01:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-10T21:27:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/GTA.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/\",\"url\":\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/\",\"name\":\"Take-Two Acquiring Zynga In Epic Mobile Gaming Transaction\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/GTA.jpg\",\"datePublished\":\"2022-01-10T18:01:00+00:00\",\"dateModified\":\"2022-01-10T21:27:52+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Take-Two Interactive is boosting its mobile games exposure in a major way through $12.7 billion Zynga acquisition.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/take-two-acquiring-zynga-in-epic-mobile-gaming-transaction\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/GTA.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/GTA.jpg\",\"width\":1280,\"height\":720,\"caption\":\"A scene from \\\"Grand Theft Auto Online.\\\" Producer Take-Two is acquiring Zynga in a massive mobile gaming deal. 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