ANKARA

American video game company Take-Two announced Monday it has agreed with social game developer Zynga to acquire all of its shares for $12.7 billion.

Under the deal, Zynga stockholders will receive $3.50 in cash and $6.36 in shares of Take-Two common stock for each share of Zynga common stock, according to a statement.

The deal is one of the largest in gaming industry and interactive entertainment sector.

While Zynga's best-known game is FarmVille, Take-Two owns two major publishing labels, Rockstar Games and 2K, which include popular gaming franchises such as Grand Theft Auto and NBA 2K.

"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," Take-Two Chairman and CEO Strauss Zelnick said in a statement.

Zynga CEO Frank Gibeau said combining the firm's expertise in mobile and next-generation platforms with Take-Two will enable it to connect the world through games while achieving "significant growth and synergies."

After the announcement, Zynga's stock price soared 46.5% to $8.8 per share at 9.58 a.m. EDT, but Take-Two was down 12.6% to $143.76.

The transaction is expected to be completed before the end of June, as it is subject to the approval of both companies' stockholders and regulators.