Benzinga | Jan 10, 2022 07:04AM EST

Take-Two To Acquire Zynga For $9.86/Share In Cash And Stock, With A Total Enterprise Value Of ~$12.7B

Take-Two to acquire all the outstanding shares of Zynga for a total value of $9.861 per share -- $3.50 in cash and $6.361 in shares of Take-Two common stock, implying an enterprise value of $12.7 billion

Transaction represents a 64% premium to Zynga's closing share price on January 7, 2022

Establishes Take-Two as one of the largest publishers of mobile games, the fastest-growing segment of the interactive entertainment industry

Unifies highly complementary businesses, including Take-Two's best-in-class portfolio of console and PC games and Zynga's industry-leading mobile franchises

Creates one of the largest publicly traded interactive entertainment companies in the world, with $6.1 billion in trailing twelve-month pro-forma Net Bookings for the period ended September 30, 2021

Transaction expected to deliver approximately $100 million of annual cost synergies within the first two years after closing, and more than $500 million of annual Net Bookings opportunities over time