 "Zynga Inc")
Take-Two Interactive is buying "Farmville" creator Zynga in an $11.04 billion deal, the "Grand Theft Auto" maker said on Monday, as it looks to tap into a surge in on-the-go gaming on smartphones.
Take-Two, also known for "Red Dead Redemption", offered $9.86 per share, representing a 64% premium to the last closing price of Zynga. Zynga's shares rose about 50% in trading before the bell, while those of Take-Two fell nearly 9%.
The deal follows Electronic Arts' $2.4 billion acquisition of Glu Mobile last year as game studios look to build their mobile portfolios.
Many consumers, who were glued to
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