Fri. Jan 21st, 2022

Take-Two, the gaming company behind the Grand Theft Auto series, is set to buy mobile gaming specialist Zynga in a $ 12.7 billion deal as it seeks to create a world leader in interactive entertainment.

The U.S. companies agreed to a cash and stock deal that valued Zynga’s equity at $ 9.86 per share, a premium of 64 percent over Friday’s closing price.

The agreement for Zynga, which created FarmVille, among others, will establish Take-Two “as one of the largest mobile gaming publishers, the fastest growing segment of the interactive entertainment industry,” the company said in a statement on Monday.

“We are delighted to announce our transformational deal with Zynga, which will significantly diversify our business and establish our leadership position in mobile devices,” said Take-Two CEO Strauss Zelnick.

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