Take-Two Interactive Software Inc. agreed to buy Zynga Inc. in a roughly $11 billion deal as the maker of “Grand Theft Auto” looks to expand its mobile portfolio with hits like “Words With Friends.”
The cash-and-stock deal announced Monday is one of the videogame industry’s bigger acquisitions to date. Take-Two Chief Executive Strauss Zelnick said a purchase of Zynga would give it a strong position in mobile, “the fastest-growing segment of the interactive entertainment industry.”