Every week it feels like a gaming company is being acquired by another, larger gaming company. Take-Two has taken part in this cycle themselves recently, with the acquisition of mobile developer Zynga still being finalised. However, for now, it seems that Take-Two itself is keen to remain independent.
In an interview with IGN, Take-Two CEO Strauss Zelnick discussed the company's position amid widespread consolidation across the gaming industry. Here's what he had to say on behalf of Take-Two:
We're a public company, and we're here for the shareholders [...] That said, our track record of creating value as an independent enterprise is pretty terrific, especially if you exclude the last three months. We think there's plenty of great times ahead, and we like being an independent organization. But we're here for the shareholders.
So, for now, it looks like Take-Two is staying put. Still, the company would likely be of huge interest to potential buyers. They own and operate 2K Games, which of course publishes the likes of GTA, Red Dead Redemption and a substantial lineup of sports games.
While Take-Two doesn't want to be acquired, it hasn't ruled out picking up more teams itself. Zelnick went on to say that the company is continuing to try and strike new deals.
We're looking for creative deals that bring us great intellectual property and great teams, and we'll continue to do that in the future [...] Undoubtedly the Zynga transaction is exceedingly significant for this company and we have a lot of work to do collectively to make sure we deliver on the value, and the focus will be largely organic growing forward. But that will not prevent us from continuing to make acquisitions that are selective and disciplined for Private Division and the rest of the business, including the mobile part of the business.
What do you make of these comments? Were you hoping Xbox would look at buying them? Let us know in the comments!
[source ign.com]
Comments 5
"But we're here for the shareholders"
Wonder if he's regretting that one.
Good. Not everything needs to be acquired by someone else. Especially if they're going to be managed by Xbox Game Studios 😂
I'm not sure what's more troubling and bizarre. The idea that "being here for the shareholders" implies universally consolidating all industry into a single entity as the primary way to serve shareholders (I mean I've always said that communism and capitalism are really the same system with the same end goal, just different routes to get there, but this is a little on the nose.)
Or "our track record is terrific [snip] especially if you exclude the last three months." which may go down as the weirdest statement I've ever heard from an executive. "We're really successful, especially before we were failing!" Wat?
They are too big to be acquired especially if by a platform holder.
All companies are there for the shareholders. Don't let that bend you out of shape. The quicker you realize it, and follow the money, the quicker you understand why companies do what they do.
Show Comments
Leave A Comment
Hold on there, you need to login to post a comment...