Take-Two Bucks Consolidation Trend: Eyes Mobile Acquisitions After GTA VI Launch

Breaking News: Take-Two Interactive to Stay Independent, Target Mobile Growth

In a video game industry reshaped by blockbuster mergers, Take-Two Interactive is charting its own course. CEO Strauss Zelnick confirmed the company will focus on organic growth for the next one to two years before pursuing a major acquisition—likely in the mobile gaming space.

“I think for the next couple of years, our story will be one of organic growth, but then if we do things right, we'd be in a position to [do] something inorganic as well,” Zelnick told Fast Company. “But would we be interested in growing? Of course.”

Industry Consolidation Pushes Rivals Into Deals

Over the past year, Ubisoft formed a new gaming subsidiary with Chinese tech giant Tencent, and Electronic Arts entered a $55 billion transaction led by Saudi Arabia’s Public Investment Fund to go private. A decade ago, more than a dozen publicly traded game makers existed; today only a handful remain independent.

Take-Two has resisted this trend. It remained independent while rivals like Activision Blizzard and EA were absorbed. The company is still digesting its 2022 acquisition of Zynga, but Zelnick already has future targets in mind.

Mobile First: The Next Acquisition Focus

Zelnick declined to name specific companies but admitted Take-Two is eyeing opportunities in the mobile sector. “There are a couple—I'm not going to name names—but there are a couple in the mobile space we're very impressed with. Less so on the console side,” he said.

Mobile gaming now accounts for half of Take-Two’s revenue, making app-based studios a logical next step. “We have our eye on a couple opportunities, but… they may not be around at that time,” Zelnick added. “And there are no guarantees. But I think there still would be some opportunity, no matter what.”

GTA VI Launch Will Dominate the Next 18 Months

Part of the reason for the acquisition delay is the upcoming release of Grand Theft Auto VI, slated for November 19. The title is the next installment in one of entertainment’s most lucrative franchises.

At the recent iicon conference, an invitation-only industry summit, Zelnick said marketing for the game would begin “soon,” suggesting further delays are unlikely. Expectations are astronomical: GTA V, released in 2013, has sold more than 225 million copies and generated nearly $10 billion in revenue. It was still the 11th best-selling game in March, according to Circana—a decade after launch.

Background: A Shifting Landscape

Take-Two’s strategy stands in sharp contrast to the consolidation wave sweeping the industry. Major players are being absorbed by deep-pocketed investors, leaving fewer publicly traded pure-play game companies. Take-Two’s independence gives it flexibility to wait for the right target at the right price.

The company has grown dramatically since Zelnick took over 18 years ago, and he downplays the risk of a hostile takeover. “We've always been at risk of someone wanting to own us because we're public and not,” he acknowledged, but emphasized the company’s strong position.

What This Means

For investors and gamers, Take-Two’s plan signals a period of stability built around its flagship franchise, followed by aggressive expansion in mobile. The mobile gaming market continues to grow, and Take-Two aims to capture that momentum through targeted acquisitions.

If successful, the company could emerge as a dominant force in both console and mobile gaming without being swallowed by a larger conglomerate. However, the two-year organic growth window means competitors may make their moves first.