US Game Development Company Is Going To Acquire Zynga

Today, after the market opened, Zynga’s stock price jumped 46% to $ 8.8, which is a four-month high. Its market cap is $ 9.729B while trading volume is popping relentlessly on the back of the latest news. However, at approximately the time of writing, it was $ 161,025,153. Zynga is dedicated to distributing and delivering social games such as Words With Friends, Zynga Poker, and Merge Dragons in different countries, which are available on both iOS and Android.

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Just a few minutes ago, it became known that Take-Two Interactive Software (TTWO) intends to acquire Zynga in the amount of $ 12.7 billion, which is 3 billion more than its market capitalization. The news negatively impacts TTWO, despite Take-Two claiming to strengthen its position in the mobile gaming space with the purchase. This plan is expected to come to fruition at the end of June this year, which is the first quarter of Take-Two’s fiscal 2023. Thus, ZNGA holders will receive $ 9.86 per share, $ 3.5 of which will be in cash, and the remaining $ 6.36 will be paid in TTWO shares. Take-Two develops PC games and under his leadership are companies such as 2K, Rockstar Games, Private Division.