Zynga, the mobile game developer known for hits like FarmVille, Words With Friends and a popular Texas Hold'em poker game, is pairing up with Take-Two Interactive, the developer of the Grand Theft Auto franchise of games.
New York Zynga, the mobile game developer known for hits like FarmVille, Words With Friends and a popular Texas Hold'em poker game, is pairing up with Take-Two Interactive, the developer of the Grand Theft Auto franchise of games.
Take-Two said Monday it is buying Zynga in a cash-and-stock deal valued at $12.7 billion, including debt. The deal values Zynga at $9.86 a share.Shares of Zynga soared more than 40% on the news in late afternoon trading, while Take-Two sank almost 15%.The deal gives Take-Two a bigger presence in the lucrative world of mobile gaming, expanding its business beyond the console and PC games it is mainly known for, including NBA 2K, Red Dead Redemption and the GTA series.
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