Take-Two, the publisher of blockbuster titles like Grant Theft Auto, Borderlands, and BioShock, has today announced its acquisition of mobile company Zynga for $12.7 billion. A giant in the business, the California-based developer is known for the likes of FarmVille and Wizard of Oz Slots. The purchase is designed to strengthen Take-Two's overall position in the mobile market to the point where it is considered a market leader.
A press release reads: "The transaction will create a powerful and diverse portfolio of industry-leading titles that span key platforms and genres across interactive entertainment, developed by some of the most creative and forward-thinking talent within the industry. By sharing best practices and key data insights across the enterprise, the Company is expected to benefit from significant development and publishing synergies, unlock new revenue streams and reach new audiences around the world."
The acquisition is now the largest sum of money ever paid for the purchase of a video game company, comfortably beating the $7.5 billion Microsoft coughed up for Bethesda last year. It makes the likes of a mobile version of GTA Online a very real possibility. Other Take-Two properties could also make the jump to mobile through Zynga studios.
Strauss Zelnick, chairman and CEO of Take-Two, said: "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. 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."