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
The acquisition would bring together a powerhouse in console gaming, Take-Two, with a mobile gaming company focused on phones and tablets.
Zynga shareholders will receive
“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
Take-Two anticipates the deal will help bring about mobile versions of some of its console and personal computer based games.
Take-Two said Monday it anticipates approximately
Zynga CEO
Take-Two will also expand its board to 10 members upon closing, adding two members from Zynga’s board.
The transaction includes a go-shop provision, giving Zynga 45 days to hear alternative proposals.
The deal is expected to close during the first quarter of Take-Two’s fiscal 2023, ending
Shares of
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