Take-Two to acquire Two Dots developer Playdots for $192 million

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Take-Two Interactive Software Inc. announced Tuesday morning that it plans to acquire mobile developer Playdots for $192 million in cash and stock. Take-Two says that Playdots has created three hit mobile games including Two Dots, which has seen more than 80 million downloads since it was launched six years back. “Our acquisition of Playdots will diversify and strengthen further Take-Two’s mobile game offerings, particularly within the casual, free-to-play segment,” Michael Worosz, Take-Two’s head of strategy and independent publishing, said in a release. Take-Two intends to pay $90 million in cash for the acquisition and fund the balance of the purchase price in newly issued shares. Shares are up 1% in premarket trading Tuesday and they’ve gained 23% over the past three months as the S&P 500 has added 14%.
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