Despite the chaos of our modern world, business is booming in 2022. We’ve seen mergers and acqusitions across numerous industries this year. The gaming industry has been quite busy as well, with notable purchases like Activision Blizzard and Bungie to name a few.
In late May of 2022, the next big purchases came to light. This time, the publisher of games like Grand Theft Auto, Bioshock, and Red Dead Redemption, Take-Two, announced they will acquire the mobile gaming giant Zynga for a cool $12.7 billion!
Another Merger, and Another Reminder of How Big Gaming Has Become
While this news broke in January of 2022, the deal is now official as of May 23rd, 2022. For those who don’t know Zynga’s portfolio, this means that mobile titles like Farmville, Words With Friends, and Zynga Poker will join Take-Two’s portfolio.
Take-Two’s chairman and CEO, Strauss Zelnick, commented on the deal closing with the usual fanfare, saying:
We are thrilled to complete our combination with Zynga, which is a pivotal step to increase exponentially our Net Bookings from mobile, the fastest-growing segment in interactive entertainment, while also providing us with substantial cost synergies and revenue opportunities. As we bring together our exceptional talent, exciting pipelines of games, and industry-leading technologies and capabilities, we believe that we can take our portfolio to another level of creativity, innovation, and quality.
While the purchase of Activision Blizzard by Microsoft is still going through approvals, this acquisition will temporarily be the largest of its kind in all of gaming. Once the Microsoft deal completes, however, it will take the crown as that deal is valued at $68.7 billion.
With the global gaming market set to reach $256.97 billion by 2025, these kinds of acquisitions and mergers will no doubt continue.
As to whether or not this deal will result in the inevitable Grand Theft Auto Mobile, or mobile versions of Take-Two’s other popular properties? Time will tell. Let us know which of Take-Two’s games you’d like to see get the mobile treatment in the comments!
Article by – Bradley Ramsey
Insert date – 5/27/2022