Huge consolidation is afoot in the world of gaming. Today Take-Two Interactive announced a plan to acquire mobile games giant Zynga, in a deal valued at $9.861 per share, $3.50 in cash and the remaining $6.361 in shares of Take-Two common stock. Zynga’s enterprise value in the deal works out to $12.7 billion.

The deal will bring together two gaming powerhouses, Take-Two in consoles and PC games (including such iconic titles as Grand Theft Auto) and Zynga in a massive swathe of mobile games, a genre that was arguably largely defined by the company (it’s behind FarmVille, Empires & Puzzles, Words with Friends and more).

The deal, Take-Two said, will result in $6.1 billion in 12-month pro-forma net bookings (ending September 30, 2021), making it one of the largest gaming companies overall, regardless of platform.

The transaction is expected to be close in Q1 of fiscal year 2023, subject to shareholder and regulatory approvals.
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