Take-Two Can Thank Apple for Zynga

Give Take-Two Interactive Software some credit: They know a deal when they see one.

The publisher of blockbuster videogames such as “Grand Theft Auto” and “Red Dead Redemption” announced a deal Monday morning to buy mobile game publisher Zynga for about $12.7 billion in cash and stock. It will create a videogame giant projected to generate about $7 billion in combined net bookings for the calendar year 2022, leveling up Take-Two significantly against its top rivals Activision Blizzard and Electronic Arts , which are projected to do between $8 billion and $9 billion in net bookings this year, according to FactSet.