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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. Li…..
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…..
Take-Two Acquires Zynga in Major Move Into Mobile Games
One week into 2022 we have our first major video game acquisition as Take-Two Interactive (NASDAQ: TTWO) intends to acquire mobile game publisher Zynga (NASDAQ: ZNGA). The acquisition will be another attempt by a console game publisher to enter the mobile game space. The big three North America console video game publishers, Electronic Arts (NASDAQ: EA), Activision Blizzard (NA…..
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