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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 and FarmVille.
The cash-and-stock deal announced Monday is one of the videogame industry’s biggest acquisitions. Take-Two Chief Executive Strauss Zelnick said a purchase of Zynga would give it a strong position in mobile, which has been the fastest-growing segment of the global videogame industry in recent years.