Take-Two to Buy Farmville Game Creator Zynga for $12.7 Billion
Video game publisher Take-Two announced Monday it has reached a deal with Zynga to acquire the mobile game developer, creator of the interactive hit Farmville, for $12.7 billion.
Strauss Zelnick, Take-Two's chairman and CEO, said in a statement that the acquisition would establish a "leadership position in mobile" for the company behind the Grand Theft Auto series.
Zynga shares soared by more than 50 percent on the Nasdaq in electronic trading before the opening bell on Wall Street, while shares of Take-Two fell by about nine percent.
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