Signage on Zynga headquarters in San Francisco, California, U.S., on Wednesday, Aug. 4, 2021. Zynga Inc. is expected to release earnings figures on August 5.
David Paul Morris | Bloomberg | Getty Images
Take-Two Interactive is buying mobile gaming company Zynga for $12.7 billion, marking the latest blockbuster acquisition in a string of major deals in the video game industry.
The company announced Monday that it would acquire all outstanding shares of Zynga at $9.86 a share, a 64% premium to Zynga’s closing price Friday. Shares of Zynga skyrocketed 49% in U.S. pre-market trade.
“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,” Take-Two CEO Strauss Zelnick said in a press release.
This story is breaking. Check back for updates.