Take-Two Interactive, the parent publisher of both 2K and Rockstar Games, has put in motion an acquisition of social game developer Zynga in a deal valued at $12.7 billion. The transaction, which uses both cash and stock, is currently set to close by the first quarter of 2023. It is also one of the largest acquisitions in videogame history.
A household name for social juggernauts such as Farmville and Words With Friends, Zynga has long been a big player in the mobile game arena. Take-Two Interactive certainly has an impressive IP library of its own—Grand Theft Auto, Red Dead Redemption, and NBK2K to name a few—but have not expanded much into the mobile scene previously.
“We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, the fastest growing segment of the interactive entertainment industry,” said Strauss Zelnick, Chairman and CEO of Take-Two.
Zelnick’s positivity is enticing, especially given that Take-Two has a less than stellar record for mobile ports of their beloved franchises. One look at their recent botched release of Grand Theft Auto: The Trilogy – Definitive Edition, all three games possibly based on their mobile ports, could be enough to want them to stay out of the mobile for good. Still, the acquisition of Zynga points toward a brighter future than janky ports, but one should suspect a Borderlands themed Words With Friends board or two along the way.