The video game studio buying frenzy that’s erupted in recent weeks may just be an industry-wide case of fear of missing out (FOMO), according to analysts. January’s string of big and small deals for game developers has seen Take-Two () – the publisher behind heavy-hitting franchises like Red Dead Redemption and Bioshock, make a for mobile game giant Zynga. Not to be outdone, Microsoft () announced it would buy Activision Blizzard () for a that would unite franchises like Call of Duty,… Source link
Read More »Take-Two’s $12.7 billion purchase of Zynga will combat Apple’s privacy changes
This article was first featured in Yahoo Finance Tech, a weekly newsletter highlighting our original content on the industry. Get it sent directly to your inbox every Wednesday by 4 p.m. ET. Subscribe Wednesday, January 12, 2022 Take-Two’s acquisition of Zynga gives its mobile arm the size to fight Apple’s privacy changes Take-Two Interactive’s (TTWO) $12.7 billion acquisition of mobile gaming giant Zynga (ZNGA) announced this week means the company behind “Grand Theft Auto” and the maker… Source link
Read More »Why Grand Theft Auto maker Take-Two is buying Zynga for $12.7 billion
Wall Street sees the rationale behind Take-Two’s $12.7 billion deal to buy Zynga, even if traders hate the transaction at first blush. “Take-Two is using its balance sheet and equity to opportunistically buy a good mobile asset in a depressed market,” said Jefferies analyst Andrew Uerkwitz. The Grand Theft Automaker said it would pay a 64% premium to scoop up Words With Friends developer Zynga, using a mix of cash and stock. Zynga will continue to be led by CEO Frank Gibeau, get two seats on… Source link
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