Take-Two Bet $12 Billion on Zynga, Just as Mobile Games Tumbled – Bloomberg

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The Zynga headquarters in San Francisco, California.
Excitement over the upcoming release of Grand Theft Auto VI is letting publisher Take-Two Interactive Software Inc. deflect investor attention from a big problem: its $12 billion foray into the shrinking mobile-games business.
With just a small presence in the fastest-growing segment of video games — titles played on smartphones — Take-Two splurged last year on Zynga, known originally for Facebook games like FarmVille and Words With Friends. It was the biggest deal ever in video games and boosted revenue from mobile titles to half of Take-Two’s $5.3 billion in annual sales.

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