PC gaming company Giant Take-Two has announced that it is making a major move in the mobile gaming space with its acquisition of Zynga for a total price of approximately $12.7 billion. Take-Two already owns Rockstar, Codemasters and 2K games, and produces games like Grand Theft AutoAnd Red Dead RedemptionAnd bioshock and others. Meanwhile, Zynga produces well-known mobile titles such as CSR RaceAnd farmville, And words with friends.
Take-Two said the deal will result in $6.1 billion in net initial bookings for 12 months, meaning it will become one of the largest gaming companies in the world. “This strategic blend combines best-in-class console and PC franchises, with a diversified, market-leading publishing platform with a rich history of innovation and creativity,” said Strauss Zelnick, Chairman and CEO of Take-Two. The deal will also help Take-Two save about $100 million annually after two years.
Zynga itself has been on the path to acquisition lately, having taken over the studio from behind lamp 3 early last year. Zynga has sometimes relied on acquisitions to find the most popular games in the volatile mobile gaming market. However, Take-Two said the mobile industry hit $136 billion in 2021 and is currently growing more than 8 percent, so the money is there. The company said that mobile will now account for half of its net bookings (the net amount of products and services sold digitally or physically).
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