Take-Two, the games company behind the Grand Theft Auto series, is to buy mobile gaming specialist Zynga in a $12.7bn deal as it seeks to create a global leader in interactive entertainment.
The US companies have agreed to a cash and shares deal that values Zynga’s equity at $9.86 per share, a premium of 64 per cent to Friday’s closing price.
The deal for Zynga, which created FarmVille among other games, will establish Take-Two “as one of the largest publishers of mobile games, the fastest-growing segment of the interactive entertainment industry,” the company said in a statement on Monday.
“We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile,” said Take-Two chief executive Strauss Zelnick.
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