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Take-Two Could Have Make or Break 2023
In January 2022, Take-Two Interactive (NASDAQ: TTWO) announced one of the biggest game industry acquisitions ever with a $12+ billion purchase of mobile game provide Zynga. That news lasted for a week until it was overshadowed by Microsoft’s planned purchase of Activision Blizzard for $68 billion.
While the Microsoft/ATVI deal is struggling to get approval, the Take-Two/Zynga deal was easily completed in May. Now Take-Two is struggling with the difficult process of co…..
Take-Two Results Reflect Zynga Acquisition
Take-Two Interactive (NASDAQ: TTWO) reported a substantial revenue increase for the first six months of fiscal 2023 ending 9/30/22. Revenue for the six-month period was up 54% to $3.9 billion. However, the company reported a loss of $361 million.
Analysis
In late May, Take-Two completed its $12 billion acquisition of Zynga and that is responsible for both the revenue gain and the loss. Like most…..
Take-Two Completes Zynga Acquisition
Take-Two Interactive (NASDAQ: TTWO) announced it has completed its acquisition of mobile game developer Zynga. The deal was announced in January 2022 and valued Zynga at over $12 billion.
Analysis
Zynga was an original pioneer of social games on Facebook. The 2011 Zynga IPO was highly hyped. At the time, DFC Intelligence was a critic of the high valuation. However, Zynga had clearly impr…..
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