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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Take-Two Interactive completed its acquisition of Zynga on May 23, 2022, combining the mobile-games publisher with the owner of major console and PC franchises. The often-cited $12.7 billion figure was the approximate enterprise value announced in January—not a cash-only price. At closing, Zynga shareholders received $3.50 in cash plus 0.0406 Take-Two shares for each Zynga share.
How much did Take-Two pay for Zynga?
The answer depends on which deal figure you mean. On January 10, 2022, Take-Two and Zynga announced an approximate $12.7 billion enterprise value. The announcement valued each Zynga share at $9.86, based on Take-Two’s closing share price on January 7: $3.50 in cash and $6.36 in Take-Two stock value. The companies said that represented a 64% premium to Zynga’s January 7 closing share price. Take-Two and Zynga’s announcement
Enterprise value is not the same thing as the cash paid to shareholders or the accounting value later recorded for the acquisition. The $12.7 billion headline was an announcement valuation measure; shareholders received a mix of cash and stock.
What did Zynga shareholders get at closing?
At completion, Take-Two reported that each Zynga share was exchanged for $3.50 in cash and 0.0406 Take-Two common shares. Zynga became a wholly owned subsidiary of Take-Two. Take-Two’s completion announcement
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The announcement’s $6.36 stock figure and the final 0.0406-share ratio describe different things, not conflicting terms. The $6.36 was the stock component’s reference value on the announcement date. The agreement included a collar that adjusted the exchange ratio according to Take-Two’s share price; the reported closing ratio was 0.0406 shares per Zynga share, alongside the $3.50 cash payment. The merger agreement
When did Take-Two complete the Zynga acquisition?
- January 10, 2022: The companies announced their cash-and-stock acquisition agreement.
- May 19, 2022: Both companies announced that their stockholders had approved the transaction proposals. They expected it to close on May 23, before market opening, subject to customary remaining conditions. Stockholder approval announcement
- May 23, 2022: Take-Two announced that the transaction was complete.
Why did Take-Two buy Zynga?
The companies presented the deal as a way to pair Take-Two’s console and PC franchises with Zynga’s mobile publishing platform and free-to-play expertise. Take-Two said the combination would expand and diversify its mobile business and bring the companies’ game intellectual property together. The January 2022 announcement
Examples the announcement highlighted included Take-Two’s Grand Theft Auto, Red Dead Redemption, NBA 2K, Civilization, Borderlands and BioShock, and Zynga’s FarmVille, Words With Friends, Zynga Poker, CSR Racing and Merge Dragons!. These were examples cited by the companies, not an exhaustive inventory or confirmation that every title remains available today.
Take-Two and Zynga also projected approximately $100 million in annual cost synergies within the first two years after closing and more than $500 million in annual Net Bookings opportunities over time. Those were forecasts in the January 2022 announcement; the figures cited here do not establish whether either target was ultimately achieved. The companies’ forecast
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How does the $9.5218 billion figure differ from $12.7 billion?
Take-Two’s fiscal 2024 Form 10-K confirms the May 23, 2022 closing date and records an acquisition-date fair value of consideration of $9.5218 billion. That accounting measure is not a replacement for the approximately $12.7 billion enterprise value announced in January 2022; the two figures reflect different measures and dates. The filing says the acquisition supported Take-Two’s strategy to expand selectively its owned intellectual property and diversify and strengthen its mobile offerings. It also records acquired developed game technology, brands, game-engine technology, a user base and other intangible assets. Take-Two fiscal 2024 Form 10-K
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