Take-Two's $12.7 billion merger with Zynga expected to close tomorrow

The $12.7 billion mega-merger between Take-Two Interactive and Zynga is expected to close tomorrow and open up new horizons.

Published Sun, May 22 2022 2:21 PM CDT   |   Updated Fri, Jun 10 2022 3:06 AM CDT

Shareholders at Take-Two Interactive and Zynga have approved all proposals and conditions of the $12.7 billion mega-merger, and the deal is expected to close tomorrow, May 23, 2022.

Take-Two's $12.7 billion merger with Zynga expected to close tomorrow 2 | TweakTown.com

Tomorrow Take-Two Interactive will grow more than it ever has before. The company will merge with mobile F2P titan Zynga in gaming's second-largest acquisition in history. The $12.7 billion deal will further open up Take-Two's traditionally console-focused business into the billion-dollar powerhouse market of mobile gaming while creating cross run-rate synergies of hundreds of millions, saving both companies considerable spending each year.

Zynga is also expected to help bring more of Take-Two Interactive's franchises to other platforms, possibly including full mobile or free-to-play ports or standalone titles. Zynga's expertise with cross-play may also open up new doors for games like GTA Online, which could benefit tremendously from cross-platform play.

Zynga has already been removed from trading on the NASDAQ and the combination is expected to be finalized tomorrow. Both companies should issue a press release with more information.

"We are extremely pleased with the results from our Special Meeting earlier today and I'd like to thank our stockholders for their support as we embark on this exciting new chapter for our business," said Strauss Zelnick, Chairman and CEO of Take-Two.

"We believe that our combination with Zynga will be transformative for our company as we create a powerful and diverse portfolio of industry-leading titles, while also becoming a leader in mobile games. As we deliver on our vision and unlock cost synergies and revenue opportunities together, we believe that we can achieve significant growth and create long-term stockholder value."

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NEWS SOURCE:ir.take2games.com

Derek joined the TweakTown team in 2015 and has since reviewed and played 1000s of hours of new games. Derek is absorbed with the intersection of technology and gaming, and is always looking forward to new advancements. With over six years in games journalism under his belt, Derek aims to further engage the gaming sector while taking a peek under the tech that powers it. He hopes to one day explore the stars in No Man's Sky with the magic of VR.

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