Take-Two, the parent company of GTA developer Rockstar Games, has completed one of the biggest acquisitions in the history of video games. Take-Two's previously announced $12.7 billion acquisition of FarmVille company Zynga is now complete.
As previously announced, Zynga stockholders are getting $3.50 in cash for each share they own and 0.0406 shares of Take-Two stock for every Zynga stock they hold.
Take-Two CEO Strauss Zelnick said in a statement that this deal is a "pivotal" play for the company to help it make even more money from mobile gaming. Mobile is the fastest-growing part of gaming, Zelnick said, and buying Zynga gives the company access to FarmVille and many other popular and lucrative franchises. Many other publishers, including EA, are spending billions in the mobile market because mobile gaming is bigger and more popular than console and PC.
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