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 made $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).
All products recommended by Engadget are handpicked by our editorial team, independently of the parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.