![]() NewZoo estimates the gaming market will grow to $200 billion by 2024. In 2021, the mobile market grew more than 7% to $93 billion, while the console market declined and the PC market stayed relatively flat. The deal in many ways represents the growing importance of the mobile game industry, which now accounts for more than half of total global games revenue, according to market research firm Newzoo. Zynga also has a highly talented and deeply experienced team, and we look forward to welcoming them into the Take-Two family in the coming months." “This strategic combination brings together our best-in-class console and PC franchises, with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity. “We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, the fastest growing segment of the interactive entertainment industry,” Take-Two CEO Strauss Zelnick said in a statement. The deal is expected to close by June 30, 2022. Zynga is a public company, meaning Take-Two is paying a premium of about 64% to buy out outstanding shares and pay shareholders $3.50 in cash and $6.36 in Take-Two stock per share. The deal is larger than both Tencent's purchase of Supercell in 2016 ($8.6 billion) and Microsoft's acquisition of Bethesda parent company ZeniMax Media in 2020 ($8.1 billion).
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