Take Two CEO Aims to Build ‘Fortress Like Balance Sheet’ Following Massive Zynga Deal
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Take Two CEO Aims to Build ‘Fortress Like Balance Sheet’ Following Massive Zynga Deal
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Following a massive deal with Zynga Take Two’s objectives have expanded even further for the future. Grand Theft Auto’s parent company, Take Two’s CEO just revealed that his team wants more acquisitions going forward.
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In case you missed it, Take Two just struck a big deal with Zynga, which is worth $12.7 billion. It’s also one of the massive deals in the history of the gaming industry.
Take Two wants more acquisitions after a huge deal with Zynga!
Earlier on Monday, January 10, 2022, GTA’s Take Two announced a massive deal with Zynga. This partnership will see the latter’s franchises like FarmVille and Words With Friends come under Take Two’s roof.
However, during the investor call, Take Two’s CEO Strauss Zelnick said that they want to make more acquisition-based deals, which simply means targeting more new firms for this purpose.
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“We expect to generate positive cash flow on an ongoing basis as soon as the transaction closes and we expect the transaction to be accretive, so we’ll be in a powerful position to continue to acquire,” Zelnick said.
Adding further, he mentions that his team’s approach will be the same as of now. By that, he meant finding more teams and fresh IPs.
Take Two’s newly announced deal will seemingly be completed during the first quarter of its fiscal year 2023. After the transaction, Zynga will mainly focus on Take Two’s mobile efforts and businesses.
Following the deal’s completion, T2 Mobile Games will have its own label under the brand Zynga inside the company.
Interestingly, Take Two also mentioned during the investor call that it will also have live services in the future with Zynga’s support. The GTA company may bring cross-platform and free-to-play titles soon.
Speaking of the GTA franchise itself, which is Take Two’s one of the most popular franchises, then there are many expectations among the fans at the moment. Because the new entry in the series, GTA 6, is not yet revealed. Rockstar Games may do that soon. But so far, there’s been no official word from the developer and publisher of iconic IPs like Red Dead Redemption and LA Noire.
What are your thoughts on Take Two’s ambitions and its future gaming projects?
Let us know in the comments section below.
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