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Zynga Inc. (NASDAQ: ZNGA) has completed the 'go-shop' period under its merger agreement with Take-Two Interactive Software (NASDAQ: TTWO). The agreement now enters a 'no-shop' phase, limiting Zynga's ability to seek alternative acquisition proposals. The antitrust waiting period has also expired, and Zynga's Board believes the merger is beneficial for its shareholders. The company expects the acquisition to finalize in the first quarter of Take-Two's Fiscal Year 2023, pending stockholder and regulatory approvals.
Zynga Inc. (NASDAQ: ZNGA) reported record Q4 results for 2021, achieving revenue of $695 million, up 13% year-over-year, and bookings of $727 million, a 4% increase. The company also noted its highest annual revenue of $2.801 billion, marking a 42% growth. Despite growth, Zynga reported a net loss of $67 million for Q4, higher than the previous year's loss of $53 million. Advertising revenue surged by 37% year-over-year, reaching a record $161 million. The average mobile daily active users rose to 37 million, while cash flow from operations totaled $158 million.
Zynga Inc. (Nasdaq: ZNGA) announces a celebration of the Lunar New Year with in-game events for its mobile golf game, Golf Rival. From
Zynga Inc. (NASDAQ: ZNGA) is set to release its fourth quarter and full year 2021 financial results on February 9, 2022, at 1:05 p.m. PT. Due to an ongoing transaction with Take-Two Interactive announced on January 10, 2022, no conference call or forward guidance will accompany the results. Zynga continues to lead in interactive entertainment, with a rich portfolio of games available globally, downloaded over four billion times. Investors can look for updates on the company's performance through the press release.
Take-Two Interactive has agreed to acquire Zynga for $9.86 per share, comprising $3.50 in cash and $6.36 in Take-Two stock, indicating a 64% premium over Zynga’s price on January 7, 2022. This acquisition enhances Take-Two’s position in the mobile gaming sector, creating one of the largest global interactive entertainment companies with a $12.7 billion enterprise value. The deal is expected to result in approximately $100 million in annual cost synergies and over $500 million in potential net bookings opportunities. Completion is anticipated in Q1 of Take-Two’s FY 2023.
Zynga Inc. (NASDAQ: ZNGA) has partnered with Forte to explore opportunities in the blockchain gaming market. This strategic alliance aims to leverage Zynga’s intellectual property to create engaging blockchain games, enhancing player economies. The global gaming industry generates over $180 billion annually, with nearly 3 billion players. Both companies aim to develop a trusted ecosystem that enhances player experience and economic opportunities within Web3 and blockchain settings. Specific partnership terms remain undisclosed.
Today, Zynga (Nasdaq: ZNGA) announces a partnership with Nala Cat, a popular Instagram cat, to engage players in FarmVille 3. The in-game event, "Nala’s Perfect Getaway," invites players to transform the resident cat into Nala after reaching level 18. Since its launch on November 4, 2021, FarmVille 3 has seen impressive metrics: over one billion crops harvested, 30 million animals born, and over 20 million gifts sent. Zynga remains committed to enhancing player engagement through innovative content.
Zynga Inc. (Nasdaq: ZNGA) announced the launch of the Northern Lights in-game event for its mobile game Golf Rival, running from December 20, 2021, to January 3, 2022. Players can participate in themed challenges in a festive North Pole setting, including the Aurora Vibes Special Challenge and Winter Wonderland Tournament. The event aims to engage mobile gamers with rewards and new gameplay experiences, enhancing player engagement during the holiday season. This initiative showcases Zynga's commitment to interactive entertainment and community involvement.
Zynga Inc. (Nasdaq: ZNGA) will participate in two virtual investor conferences. The first is the Nasdaq Virtual Investor Conference on December 3, 2021, featuring CFO Ger Griffin at 3:00 PM GMT. The second, the UBS Global TMT Virtual Conference, will occur on December 8, 2021, with CEO Frank Gibeau presenting at 2:00 PM ET. Both conferences can be accessed via live audio webcasts on Zynga's Investor Relations website, where replays will also be available.
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