Take-Two Interactive to acquire social game developer Zynga in $12.7 billion deal

Liz Hafalia/San Francisco Chronicle has a photo of 800-244-0167.

The Wall Street Journal reported that Take-Two Interactive is set to acquire social game developer Zynga in a deal valued at $12.7 billion. The cash and stock transaction is expected to close in the first quarter of 2023.

Take-Two Interactive has made a move into the mobile game market. Take-Two is behind some of the most well-known game series, including Grand Theft Auto, Red Dead Redemption, BioShock, and NBA 2K.

The acquisition of Take-Two is one of the largest in video game history.

FarmVille is one of the earliest games to be planted on Facebook by Zynga, which has a pretty impressive portfolio of its own. Words With Friends was created by the mobile game developer and made its way to Messenger. Revamp is a game the company is going to roll out.

Frank Gibeau, the CEO of Zynga, said that the combination of their expertise in mobile and next-generation platforms with Take-Two's best-in-class capabilities and intellectual property will enable them to further advance their mission to connect the world through games.

Microsoft's $7.5 billion purchase of Bethesda was the largest video game acquisition of all time, and the $8.57 billion acquisition of a majority stake in Supercell was the largest video game acquisition of all time.