Take-Two to acquire Zynga with massive $12.7 billion deal, forming new T2 mobile game label

Take-Two . interaction has just reached an agreement to acquire Zynga, with plans to enter the mobile gaming space for the first time in a big way. The deal could be the biggest game buyback used to have a combined cash and stock value of $12.7 billion. While not the first major studio acquisition to date, when compared to something like Microsoft’s acquires ZeniMax (and with it, Bethesda) for $7.5 billion, that is big.

This acquisition brings Take-Two Interactive, which owns 2K games and Rockstar Games, and franchises like The journey to atone for mistakes, BioShock, Grand Theft Auto, and Borderlands a valuable mobile and social game platform. Indeed, as part of the deal, T2 Mobile Games will be established and operated under the Zynga brand as its own new label. Take-Two also has access to some of Zynga’s internal tools for advertising and user acquisition with growth goals for the incorporated company.

Since Take-Two already has many significant IPs, including those operating in the online multiplayer space, this type of mobile platform acquisition makes sense as a gap-filler. Now, when this deal closes, what could that mean for the valuable IPs in the company’s portfolio? According to a press release on the acquisition, “The company is expected to benefit from significant publishing and development synergies, unlocking new revenue streams and reaching new audiences around the world. “.

Though we’ll all have plenty of time to consider what that could mean for all of the company’s combined IPs, as the deal won’t close for a while. It will need approval from both Take-Two and Zynga shareholders, but it will proceed with approval from the boards of both companies. The current estimated closing time is June 30, 2023.

You can follow the development of the Take-Two Zynga acquisition at Take-Two Games Website.