Take-Two to buy 'FarmVille' maker Zynga for $11 billion in largest gaming deal

FILE PHOTO: The Zynga logo is pictured at the company's headquarters in San Francisco, California April 23, 2014. REUTERS/Robert Galbraith

(Reuters) -"Grand Theft Auto" video game maker Take-Two Interactive said on Monday it would buy Zynga for $11.04 billion in a cash-and-stock deal that will add popular mobile titles such as "FarmVille" under its umbrella as demand surges for on-the-go gaming.

The deal, the largest ever in the sector, will create a gaming powerhouse with a market cap of nearly $30 billion, spanning console, PC and mobile devices at a time that more people are gaming on their smartphones.