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Thursday, September 18, 2025

Take-Two to Buy Zynga in $12.7B Deal

  • Take-Two Interactive is set to buy mobile-game maker Zynga.
  • The deal has an implied enterprise value of $12.7 billion.
Zynga-Take-Two-Interactive
Zynga/Design: Alex Brooks

A major acquisition is bringing together two of the largest game makers in the U.S.

Take-Two Interactive will buy mobile game maker Zynga in a deal valuing the company at an implied enterprise value of $12.7 billion. The price represents a 64% premium on Zynga’s closing stock price on Friday.

The move gives Take-Two, maker of the “Grand Theft Auto,” “NBA 2K,” and “Red Dead Redemption” franchises, a major player in mobile gaming. 

Zynga made its name as a leader in Facebook games with “Farmville,” then turned its attention to mobile with titles like “CSR Racing” and “Empires & Puzzles.”

  • The companies combined for $6.1 billion in net bookings for the 12 months preceding Sept. 30, 2021.
  • By combining forces, the companies expect to save around $100 million annually over the next two years and potentially create around $500 million in annual net bookings.
  • The deal will be funded with $2.7 billion in financing from JPMorgan Chase, Take-Two’s balance sheet, and a new debt issuance.

Mobile on the Move

In September, market researcher Newzoo estimated that mobile gaming would grow 4.4% in 2021 to $90.7 billion – more than half of the $175.8 billion gaming market. 

The analyst predicted mobile gaming to see an 11.2% average annual growth rate to $116.4 billion from 2019 to 2024, with global gaming reaching $200 billion at that time.

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