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Take-Two Interactive To Acquire Game Developer Zynga For $12.7 Billion

Take-Two Interactive is on course to acquire mobile game developer Zynga for an industry record deal of $12.7 billion. If this acquisition goes through, it will be the biggest in video game history, after Microsoft’s $7.5 billion purchase of Bethesda.

Take-Two Interactive to buy game developer Zynga for $12.7 billion | TechSpot

Take-Two is a successful gaming company with successful titles like Grand Theft Auto, NBA 2K and others. While Zynga has Farmville and Words With Friends among its successful mobile game titles.  According to The Wall Street Journal, this valued $12.7 Billion deal should happen before the end of the first quarter in 2021. The acquisition combines a mix of cash and stocks which would be subject to regulatory approval.

Frank Gibeau, CEO of Zynga describes the acquisition as the next jump for the mobile gaming company. “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,” he said.

Elsewhere, Sony has officially completed the acquisition of AT&T’s Crunchyroll. The deal was reported as $1.1 billion subject to a customary working capital and other adjustments, and the proceeds were paid in cash at closing.

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Crunchyroll has been an underperforming arm of AT&T’s business. The company seems to have sold the arm to Sony to focus solely on its connectivity business.

Sony acquires Crunchyroll | KNOWLEDGEBASENG

Sony already has an anime streaming arm, Funimation. Crunchyroll purchase strengthens the company’s grip on the Anime business. Sony is gunning for the Anime streaming business, quite popular in the Asian continent and growing in the united states. Its PlayStation gaming business is already making loads of cash; and this acquisition should add to the war chest.

Gaming has been on the rise since the emergence of the global pandemic. Gamers are looking to play more handheld mobile games as they commute home; to work; and simply for relaxing. The big players in the gaming industry will be preparing acquisitions of the hottest smaller gaming companies to increase their market share.

 

 

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