Sina Technology News On the evening of January 10, Beijing time, it was reported that video game developer Take-Two today announced that it will acquire social game developer Zynga with about $12.7 billion (corporate value) of cash and stock.
Take-Two said it will buy all of Zynga's outstanding shares at $9.86 per share. In premarket trading on Monday, Zynga shares rose 40.2 percent at $8.89 per share.
The $9.86 quote is a 64.4 percent premium to Zynga's closing price on Friday. The equity value of the deal is calculated at $11.04 billion.
The deal is expected to close by the end of June this year.
Headquartered in New York, Take-Two is a major U.S. game developer and publisher, as well as a distributor of video games and peripherals. It owns a number of studios, such as 2K Games and Rockstar Games, and its representative works include the Grand Theft Auto series and the Resident Evil series.
Zynga is a social gaming company headquartered in San Francisco, USA, and its masterpieces include the FarmVille series, Treasure Isle and Texas Hold'em.
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