It was expected that the merger would be completed by the first quarter of T2’s 2023 fiscal year. However, it was announced today that Zynga and Take-Two have completely merged successfully. Under the terms of the merger agreement, Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock. Take-Two Interactive CEO Strauss Zelnick said the following: Meanwhile, Zynga CEO Frank Gibeau stated the following: 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. Each of our teams has a strong history of operational execution, and together, we expect that we will enhance our financial profile through greater scale and profitability, paving the way for us to deliver strong shareholder value. This deal is impactful as it can increase Take-Two’s base of Recurring User Spending since the sales from those titles published by Zynga will be added. The transaction is quoted to bring a powerful and diverse portfolio of industry-leading titles to the company’s portfolio while also having the T2 leadership in charge of the combined company.
