Grand Theft Auto maker buys Farmville company in $12.7B deal
ABC News
Take-Two Interactive, maker of Grand Theft Auto and Red Dead Redemption, is buying Zynga, maker of FarmVille and Words With Friends, in a cash-and-stock deal valued at about $12.7 billion
Take-Two Interactive, maker of “Grand Theft Auto” and “Red Dead Redemption,” is buying Zynga, maker of “FarmVille” and “Words With Friends,” in a cash-and-stock deal valued at about $12.7 billion.
The acquisition announced Monday would wed a powerhouse in console gaming, Take-Two, with a mobile gaming company with an almost cult-like following.
Zynga shareholders will receive $3.50 in cash and $6.36 in shares of Take-Two common stock for each share of Zynga outstanding stock at closing. The transaction is valued at $9.86 per share of Zynga common stock.
“This strategic combination brings together our best-in-class console and PC franchises, with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity," Take-Two Chairman and CEO Strauss Zelnick said in a prepared statement. He will retain those roles when the companies become one.