In its heyday, Zynga was a big disruptor in the games industry, riding the popularity of its FarmVille franchise all the way to a high-profile IPO in the days when social games were taking Facebook by storm.
Since then, Zynga has continued to release games, although as mobile games replaced Facebook games as the industry’s new driving force, its thunder was slightly stolen by companies like Supercell and Candy Crush Saga-maker King.
Anyway, Zynga’s chapter as a public company is drawing to a close: it’s being bought by traditional games publisher Take-Two Interactive in a deal that values Zynga at around $12.7bn.
Take-Two, which publishes franchises including Grand Theft Auto and NBA 2K, is paying a 64% premium on Zynga’s closing share price last Friday (7 January) in the deal, which is expected to close in the second quarter of this year – although a ‘go-shop’ clause means Zynga can solicit alternative acquisition offers until 24 February.
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