Video game companies Take-Two Interactive and Zynga joining forces could be a massive move for both companies to compete in the mobile gaming market.
Take-Two Interactive and Zynga have officially tied the knot.
Zynga, best known for creating the addictive game, Farmville, has been harvested by another gaming leader, Take-Two Interactive. Take-Two Interactive notably published games such as Grand Theft Auto, Red Dead Redemption, NBA 2K and many more AAA-titles. While Zynga’s stock prices have not been performing highly in the past year, Take-Two Interactive has been able to work on a $12.7 billion deal to bolster their assets with this acquisition.
Chairman and CEO of Take-Two Interactive, Strauss Zelnick, was thrilled to see how the merger of the two companies could help diversify their talents on the mobile platform, “We are thrilled to announce our transformative transaction with Zynga…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. Zynga also has a highly talented and deeply experienced team, and we look forward to welcoming them into the Take-Two family in the coming months.”
Zelnick continued to discuss and predict the partnership should be able to bring in “$500 million of annual net bookings opportunities” within the first couple of years. This move can be both an explorative and creative phase for both companies to take the best of what each company is good at and hopefully achieve successful results.
The CEO of Zynga, Frank Gibeau, also shared their thoughts on the acquisition. “Combining Zynga’s expertise in mobile and next-generation platforms with Take-Two’s best-in-class capabilities and intellectual property will enable us to further advance our mission to connect the world through games while achieving significant growth and synergies together.”
Take-Two Interactive and Zynga gaming publishers appear to be a force to be reckoned with in the gaming industry as they hope to expand and diversify both of their teams’ talents and resources.