Today’s merger of Take-Two Interactive and Zynga is one of the largest in the video game industry to date.
To boost its mobile gaming division, Take-Two Interactive announced the acquisition of Zynga in January. The parent company of Rockstar Games and Grand Theft Auto was willing to put almost 13 billion US dollars on the table for this.
Both Take-Two and Zynga shareholders have now approved the merger. Zynga stock has not traded since Friday’s close and is no longer listed on NASDAQ.
Today, Monday, the largest merger in the video game industry will be completed and both companies will operate under one roof. Microsoft and Activision Blizzard are expected to top this again next year.
Commenting on the merger last week, Take Two CEO Strauss Zelnick said, “We believe that joining forces with Zynga will transform our company as we create a strong and diverse portfolio of industry-leading titles while becoming a leader in the space of mobile games.”
Frank Gibeau, CEO of Zynga, added, “We are excited to be one step closer to combining Zynga’s next-generation free-to-play expertise and mobile platform with the best-in-class capabilities and renowned intellectual property of Take -Two to combine.”
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