Take-Two to buy ‘FarmVille’ maker Zynga for $11bn in largest-ever gaming deal



by   |  VIEW 1067

Take-Two to buy ‘FarmVille’ maker Zynga for $11bn in largest-ever gaming deal
Take-Two to buy ‘FarmVille’ maker Zynga for $11bn in largest-ever gaming deal

Take Two Interactive Software, Inc., the New York City-based video game company founded by a Ryan Brant back in 1993, said earlier this week that the maker of immensely popular ‘Grand Theft Auto’ would purchase “Farmville” maker Zynga at an $11.04 billion cash-and-stock deal, largely in a bid to tap into mobile gaming industry as demands of on-the-go mobile games appear to be surging exponentially.

On top of that, latest move from Take-Two to purchase mobile games maker Zynga at a deal what happens to be the largest-ever in mobile gaming industry, metamorphosizing a critical centrepiece in gaming industry having had a market cap over $30 billion, came forth at a time while smartphone gaming trend has been spanning at a breakneck pace, in particular among adults and elderly alongside youth.

Besides, followed by the announcement, prices of Take-Two common stocks had closed out Tuesday’s Wall Street 4.01 per cent higher to $148.73 after surging as much as 3.69 per cent in pre-market trading.

Take-Two to purchase Zynga at an $11.04bn cash-and-stock deal

Besides, according to the financial terms of the deal, Take-Two, widely hailed for its adventure game “Red Dead Redemption,” would be paying off $3.50 in cash and $6.361 in stocks for each Zynga stock, representing a premium of 64 per cent according to Zynga’s Friday’s closing price, while the takeover deal in effect would be worth a whopping $12.7 billion including debts.

Meanwhile, citing an out and out optimism over the deal, Chief Executive of videogame consulting firm Kantan Games, Serkan Toto said, “It's a bombshell deal ... Zynga was on the list of potential M&A transactions for a long time in the video game business”.

New York

World Leaders in New York: Concerns Rise Over Potential Zelensky-Triggered Crisis

New York City Puts a Stop to TikTok on Government Devices

New Jets safety Adrian Amos tells how Aaron Rodgers brought him to New York

New York radio legend Mike Francesa destroys Jets in shocking rant

A Controversial Call Seals Fate for New York Mets in Face-off against Milwaukee

CoinEx Exchange Banned in New York: Authorities Seized $1.7M