Take-Two Acquires Mobile Game Giant Zynga for $12.7 Billion

Gaming giant Take-Two has announced it decided to dive into mobile gaming by acquiring Zynga for approximately $12.7 billion. In case you are not familiar with the company, Take-Two also owns Rockstar Games, Codemasters, and 2K, publishing Grand Theft Auto, Red Dead Redemption, Bioshock, and other huge titles. 

Take-Two noted they expect the deal to result in $6.1 billion worth of 12-month pro-forma net bookings, "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," said Take-Two Chairman and CEO Strauss Zelnick. 

Take-Two also noted that the mobile industry generated $136 billion in 2021 and is currently growing at over 8 percent, so they expect new cash streams. Mobile is said to now account for half of its net bookings.

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