Take-Two Interactive has entered into an agreement to acquire mobile game developer Zynga for an estimated $12.7 billion USD (about $16.1 billion CAD).
Should the deal go through, this would be the largest acquisition of a gaming company to date. For reference, Microsoft's major purchase of Bethesda parent company ZeniMax last year was valued at around $7.5 billion USD (about $9.5 billion CAD).
Take-Two Interactive is one of the biggest AAA game publishers in the console and PC space, owning the likes of Grand Theft Auto, NBA 2K and Borderlands. Zynga, meanwhile, is a leader in the mobile and social game space for titles like Farmville and Words with Friends.
Therefore, Take-Two says it's acquiring Zynga to broaden its portfolio.
“We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, the fastest-growing segment of the interactive entertainment industry,” said Strauss Zelnick, chairman and CEO of Take-Two, in a press statement.
Currently, Zynga is working on Star Wars: Hunters, an arena combat game for Android, iOS and Nintendo Switch, which is set to release sometime this year.
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Source: Take-Two Interactive