Take-Two Interactive Software Inc - TTWO STOCK NEWS

Take-Two Interactive Software (NASDAQ: TTWO) has officially completed its merger with Zynga, with Zynga stockholders receiving $3.50 in cash and 0.0406 shares of Take-Two stock per Zynga share. The merger aims to significantly boost mobile revenues, which is a rapidly growing sector in gaming, and to generate cost synergies. Both CEOs expressed excitement about combining their strengths to enhance creativity and operational execution. The merger is expected to enhance Take-Two’s financial profile through increased scale and profitability, ultimately benefiting shareholders.

Take-Two Interactive Software (NASDAQ: TTWO) and Zynga (NASDAQ: ZNGA) announced stockholder approval for their merger at separate Special Meetings. The business combination is set to close on May 23, 2022, pending customary conditions, with Zynga shares ceasing to trade on May 20, 2022. Zynga stockholders will receive $3.50 in cash plus 0.0406 shares of Take-Two stock for each Zynga share. This merger aims to create a robust portfolio, enhancing both companies' positions in the gaming market and focusing on mobile games.

Take-Two Interactive Software (TTWO) reported a 4% increase in GAAP net revenue to $3.50 billion for fiscal year 2022, with net income decreasing to $3.58 per diluted share from $5.09 the previous year. Fourth quarter GAAP net revenue rose 11% to $930 million, driven by popular franchises such as NBA 2K and Grand Theft Auto. However, total Net Bookings for the fiscal year declined 4% to $3.41 billion. The company forecasts a standalone Net Bookings range of $3.75 billion to $3.85 billion for fiscal 2023, aiming to enhance its portfolio and capitalize on its merger with Zynga.

Take-Two Interactive Software, Inc. (NASDAQ: TTWO) will report its financial results for Q4 and fiscal year 2022 on May 16, 2022, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. ET, accessible via phone or webcast. The company is renowned for its interactive entertainment products and operates through subsidiaries like Rockstar Games and 2K. Investors and stakeholders are encouraged to tune into the call for insights into the company’s performance.

Take-Two Interactive Software (NASDAQ: TTWO) has announced a public offering of $2.7 billion in Senior Notes to fund the acquisition of Zynga Inc. This includes $1 billion of 3.300% notes due 2024, $600 million of 3.550% notes due 2025, $600 million of 3.700% notes due 2027, and $500 million of 4.000% notes due 2032. The offering's closing is expected on April 14, 2022, conditional upon customary closing conditions. Should the acquisition not finalize by January 9, 2023, Take-Two will need to redeem the Senior Notes.

2K and Gearbox Software have launched Tiny Tina’s Wonderlands®, a new fantasy looter shooter game available on multiple platforms including Xbox and PlayStation. Players create customizable heroes in an unpredictable world led by Tiny Tina, experiencing thrilling combat with various spells and weapons. The game has received positive early reviews, with Game Informer scoring it 9.5/10. Various editions are available, with prices ranging from $59.99 to $89.99. A cross-promotion with Fortnite includes exclusive in-game content for those purchasing through the Epic Games Store.

The Quarry, an interactive teen-horror narrative game by 2K and Supermassive Games, launches on June 10, 2022. Players navigate a story shaped by their choices, featuring Hollywood stars like David Arquette and Ariel Winter. The game will be available on multiple platforms including PlayStation 5, Xbox Series X|S, and Windows PC. With stunning cinematic visuals and multiplayer options, the game promises an engaging horror experience as players guide nine camp counselors through a night of terror at Hackett's Quarry.

Take-Two Interactive Software (TTWO) has signed four new publishing agreements under its Private Division label with independent developers including Die Gute Fabrik, Evening Star, Piccolo Studio, and Yellow Brick Games. These titles will enhance Private Division's portfolio, which includes popular franchises such as Kerbal Space Program and The Outer Worlds. The projects are currently in early development, with the first expected to launch in Fiscal Year 2024.

Take-Two Interactive Software (NASDAQ: TTWO) announces that Grand Theft Auto V and GTA Online are now available digitally on PlayStation 5 and Xbox Series S|X. The games are priced at $9.99 and $19.99 respectively until June 14, 2022, with a free standalone version of GTA Online. Enhanced features include ray tracing, improved textures, and faster loading times. Players can transfer progress from previous consoles and access exclusive new content. Rockstar Games has solidified its reputation with over 350 million units sold in the Grand Theft Auto series.