Tech

The company that owns GTA – Grand Theft Auto is buying Zynga in nearly $12 billion worth acquisition

The creators of the video game “Grand Theft Auto” – “Take-Two Interactive”, announced that the company will buy “Zynga” for 11.04 billion dollars in cash and shares in a deal that will add titles to its portfolio, such as “FarmVille”, in conditions of increased demand for such games.

The deal, the largest in the sector, will create a gaming giant with a market capitalization of nearly $30 billion, offering games for consoles, PCs and mobile devices at a time when more and more people are playing on their smartphones.

Take-Two, also known as the adventure game Red Dead Redemption, offered $3.50 in cash and $6,361 in stock for each Zynga stock, up 64% from its final closing price. If Zynga’s liabilities are included, the deal is worth $12.7 billion.

Shares of Zynga rose 45% yesterday, but were still just over a dollar lower than the price offered in the deal, while shares of Take-Two fell about 15%.

The deal is expected to be finalized in the first half of this year. There is also a 45-day period in which Zynga can negotiate with other customers until February 24 for a better offer.

The mobile gaming market is expected to reach $116.4 billion by 2024, according to Newzoo, and some analysts expect more deals in the sector.

“This trend will not stop here. “Many console game developers find it difficult to create games for mobile phones,” D.A. Davidson “, Franco Granda.

“The crypto sector and the meta-universe are potential growth opportunities, but mobile games have proven to be successful,” he said.

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