What happened to Zynga Inc?
What happened to Zynga Inc?
Take-Two has completed its $12.7 billion acquisition of mobile games giant Zynga, the company announced on Monday. Under the terms of the merger agreement, Zynga shareholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.
Is Zynga still in business?
But while the original FarmVille merely limped along until 2020, Zynga has successfully transitioned into a casual mobile gaming powerhouse by spending billions of dollars on acquisitions like Gram Games (1010) and Small Giant Games (Empire & Puzzles) in 2018, as well as Peak Games (Toon Blast) and Rollic (Go Knots 3D) …
Is Znga a good stock to buy?
Analysts generally believe Zynga is underweight and its stock price target is estimated at a $12.00 value. Its price-to-sales ratio is over 33% lower than it was a year ago, but it’s operating cash flow of $161 million last quarter is an 11 percent year-over-year increase.
What company owns Zynga?
Take-Two InteractiveZynga / Parent organizationTake-Two Interactive Software, Inc. is an American video game holding company based in New York City and founded by Ryan Brant in September 1993.
The company owns two major publishing labels, Rockstar Games and 2K, which operate internal game development studios. Wikipedia
What happens to my Zynga stock after merger?
Under the terms of the merger agreement, upon the closing of the transaction, Zynga will be combined with Take-Two on the terms set forth in the merger agreement and Zynga stockholders will be entitled to receive $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.
How did Zynga fail?
Zynga’s stock dropped soon after the report also identified a softening mobile market, user privacy concerns and a loss of players as COVID-19 restrictions ease up. Still, according to CEO Frank Gibeau, the course that brought Zynga back from its death watch is one worth keeping.
Did Zynga get sold?
And just a week ago, console gaming heavyweight Take-Two announced an agreement to acquire Zynga in a deal valued at $12.7 billion which Forbes senior contributor Paul Tassi says instantly made it “a mobile monster.”
Is Zynga a good stock to buy 2021?
In fact, at the current market price of $10, ZNGA stock is trading at just 22x its 2021 EPS estimate of $0.45. We continue to believe that Zynga deserves a higher P/E multiple given the strong revenue and earnings growth delivered over the recent past, a trend expected to continue going forward, as well.
What will Zynga stock be worth in 5 years?
Based on our forecasts, a long-term increase is expected, the “ZNGA” stock price prognosis for 2027-05-19 is 13.417 USD. With a 5-year investment, the revenue is expected to be around +64.03%. Your current $100 investment may be up to $164.03 in 2027.
What is Zynga Inc famous for?
Zynga Inc. /ˈzɪŋɡə/ is an American developer running social video game services. It was founded in April 2007, with headquarters in San Francisco. The company primarily focuses on mobile and social networking platforms. Zynga states its mission as “connecting the world through games”.
Will Zynga be acquired?
Take-Two Interactive has officially acquired social and mobile gaming company Zynga. The $12.7 billion acquisition, announced in January, was completed Monday. The combined company will bring a new slate of popular games to Take-Two, including Zynga’s Farmville, Words with Friends and Zynga Poker.
Why did Zynga stock fall?