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What You Should Know About Social Point, Take-Two's Latest Acquisition

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What You Should Know About Social Point, Take-Two's Latest Acquisition

On Wednesday it was announced that Take-Two Interactive Software, Inc. (NASDAQ: TTWO) had successfully acquired mobile game developer Social Point, in one of the once deal-happy Take-Two's only acquisitions this decade.

Social Point, developer of games like "Social Wars," "Social Empires" and "World Chef," is a social network game developer that got its start making free online games for Facebook, Inc (NASDAQ: FB). The company's name is a nod to its mission, to connect the world through social gameplay.

Social Point's two most successful games, "Dragon City" and "Monster Legends," have achieved close to 200 million downloads on iOS and Android platforms.

Take-Two purchased the company for total compensation of $250 million in cash and stock, with a potential "earn-out" payment of up to $25.9 million.

The market seems to approve of the deal, as Take-Two shares were 0.51 percent higher on the news in late-morning trading.

Posted-In: Social PointM&A News Tech Media Trading Ideas General Best of Benzinga

 

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