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Gaming

Zynga and Take-Two to merge on May 23 in $12.7 billion deal

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By Tekato Longkumer Updated: May 20, 2022 10:56 pm
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Zynga and take two merge deal
Photo: Zynga Inc.

In what can be described as one of the biggest ever deal in the gaming industry, American video game publisher Take-Two Interactive Software and American social video game developer Zynga Inc. will merge on May 23.

In a press release, the two companies announced today that the stockholders of each organisation have approved all proposals related to Take-Two’s combination with Zynga at each company’s respective special meeting of stockholders.

Shares of Zynga will cease trading after the market close on May 20, 2022, and following the closing, Zynga will no longer be listed on the NASDAQ exchange.

It may be mentioned that Rockstar, parent company Take-Two, had revealed plans in January to acquire Zynga in a $12.7 billion deal. Upon completion, the deal will be the biggest completed acquisition in the history of the gaming industry. However, Microsoft’s planned $68.7 billion acquisition of Activision Blizzard will have something to say about that.

Take-Two’s impressive list of franchises include Grand Theft Auto, Borderlands, NBA 2K and BioShock. As of Monday, these franchises will now be under the same roof as Zynga’s popular social games like FarmVille, CSR Racing and Zynga Poker.

“We believe that our combination with Zynga will be transformative for our company as we create a powerful and diverse portfolio of industry-leading titles, while also becoming a leader in mobile games,” Zelnick said on Thursday.

Zynga CEO Frank Gibeau added: “We are excited to be one step closer to combining Zynga’s free-to-play expertise and next-generation mobile platform with Take-Two’s best-in-class capabilities and renowned intellectual properties.”

6139
By Tekato Longkumer Updated: May 20, 2022 10:56:00 pm