Take-Two Acquires HookBang's Video Game Unit to Bolster NBA 2K Development

Take-Two Interactive (NASDAQ: TTWO) has a new asset in its portfolio. The company's 2K publishing label announced Tuesday that it acquired the video game unit of privately held HookBang. It did not disclose the price it is paying.

The team members that are joining 2K/Take-Two will be rebranded as Visual Concepts Austin, and be part of the similarly named Visual Concept. This is the Take-Two-owned studio responsible for the company's long-running and popular NBA 2K series of pro basketball video games. NBA 2K is important for Take-Two, as it has a solid user base and is updated every year. The latest title in the series, NBA 2K21, was released last September.

Image source: Getty Images.

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Source Fool.com