Take-Two Interactive have announced they have acquired mobile game studio Zynga for $12.7 billion.

Strauss Zelnick, Chairman and CEO of Take-Two Interactive, said in a press release:

“We are thrilled to announce our transformative transaction with Zynga, which significantly diversifies our business and establishes our leadership position in mobile, the fastest growing segment of the interactive entertainment industry. This strategic combination brings together our best-in-class console and PC franchises, with a market-leading, diversified mobile publishing platform that has a rich history of innovation and creativity. Zynga also has a highly talented and deeply experienced team, and we look forward to welcoming them into the Take-Two family in the coming months. As we combine our complementary businesses and operate at a much larger scale, we believe that we will deliver significant value to both sets of stockholders, including $100 million of annual cost synergies within the first two years post-closing and at least $500 million of annual Net Bookings opportunities over time.”

Zynga are one of the most recognzied mobile studios in the world developing titles such as Zynga Poker, CSR Racing, Harry Potter: Puzzles & Spells, and FarmVille. It’s speculated that Zynga will be creating mobile ports of popular Rockstar IPs such as Midnight Club and Grand Theft Auto.