NEW YORK, May 23, 2022--Take-Two Interactive Software, Inc. (NASDAQ: TTWO) ("Take-Two" or the "Company") announced today the completion of its combination with Zynga Inc. ("Zynga"). Under the terms of the merger agreement, Zynga stockholders received $3.50 in cash and 0.0406 shares of Take-Two common stock per share of Zynga common stock.
Take-Two Interactive (NASDAQ: TTWO) shareholders leveled up against the market this week. Take-Two executives announced on Monday that sales rose 11% for the first-quarter selling period that ended in late March, amid robust demand for digital entertainment. The delay of one or more of those titled could pressure Take-Two's sales in 2022, as they have for rival Activision Blizzard.
The video game company is expecting revenue and profits to inflect higher within the next two to three years.