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Take-Two enters the industry with a $12.7bn Zynga acquisition

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Take-Two Interactive enters the mobile market with an impressive $12.7bn acquisition of social game developer, Zynga.

The online casino industry continues to grow and expand with new developments and partnerships every day. The latest is Take-Two Interactive acquiring the social game developer Zynga in a $12.7 billion deal.

The deal is set to expand their portfolio and mark the company's exploration of the mobile market.

Take-Two takes on Zynga

The video game publisher, Take-Two Interactive is acquiring the social game developer, Zynga. The deal of about $12.7 billion both in cash and stock will close in the first quarter of 2023, pending regulatory approval.

Take-Two is a popular video game publisher and the owner of Rockstar and 2K games. They are known for some of the best video game series available today. This includes popular sets such as Grand Theft Auto, BioShock, Borderlands, Red Dead Redemption, and NBA 2K.

Zynga on the other hand boasts a range of popular social games such as Words with Friends and Farmville which became an instant hit on Facebook. They are also planning to release a game similar to 'Among Us' called Revamp which will be available on Snapchat.

The Take-Two acquisition of Zynga is easily one of the biggest within video gaming history. And the main reason for the acquisition is to continue to connect the world through games.

For more information on social gaming check out our infographic: the top 5 social gaming apps.

According to Zynga CEO, Frank Gibeau, being able to combine Zynga's mobile expertise and next-generation platforms with Take-Two's intellectual properties and high-end capabilities allow them to further enhance the mission of connecting via mobile.

For Take-Two, this transaction is an opportunity to take a new journey that will enable them to create bigger and better games that could potentially reach larger audiences and significant growth.

Take-Two CEO, Strauss Zelnick, says the deal will allow the business to gain a larger foothold within the mobile gaming industry. It also enables them to significantly diversify the Take-Two business and more permanently establish the company as a leader within the mobile gaming sector.

More unexpected mergers and acquisitions to come?

With the online casino industry growing rapidly it has become a lucrative market making it appealing to many big names.

In the past few years, we have seen a lot of mergers and acquisitions within the industry but also an increase in such partnerships with companies outside the industry. This includes Microsoft's $7.5 billion purchase of Bethesda and Tencent's $8.57 billion acquisition of a majority stake in Supercell.

Another recent acquisition that caught the world off guard was the news that Microsoft would be purchasing Activision Blizzard for $68.9 billion. The troubled tech firm is home to popular video games such as Call of Duty and World of Warcraft but Microsoft will have a lot of work on its hands dealing with the toxic work culture and failed projects.

While there is no defining factor on whether the numbers of these mergers and acquisitions will increase, the possibility is there.

The industry is expanding and with the new direction of game creation, there is more possibility of partnerships and merging opportunities between video game developers and online casino industry giants.

More social gaming opportunities

Real money gaming is one of the most popular forms of gaming, but social gaming has quickly climbed the ranks of popularity in the past few years. With Take-Two acquiring Zynga there's plenty of speculation but also increased interest within the social gaming industry.

As the deal closes, the Take-Two team will continue to oversee both businesses but the Zynga management team will remain in charge of the Zynga brand under the Take-Two umbrella. Opening the possibilities and opportunities for more social gaming. With new releases on the horizon, it’s an exciting time for both companies.

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