Take-Two Interactive CEO Strauss Zelnick discussed potential acquisitions during an investor call. The comments came after the release of the company’s full fiscal year earnings. Zelnick highlighted three uses for incoming cash from Grand Theft Auto VI.
Strauss Zelnick addressed capital allocation plans on the call held after earnings were released on May 21. He listed organic growth, inorganic growth through acquisitions, and returning capital to shareholders as options. Zelnick said acquisitions would be selective and focused on creative studios, citing past deals for Zynga and Gearbox as successes. “I’m proud to say that all of our acquisitions have turned out to be creative and successful in our nearly two-decade period,” he said. “That’s pretty breathtaking for corporations, it’s not generally the case. And I think that’s because we’re immensely disciplined.” The company expects to reach a net cash position by the end of the fiscal year. Grand Theft Auto VI is scheduled for release on November 19.
