Take-Two buys Spain’s Social Point mobile game studio for at least $250 million

Take-Two Interactive has acquired Spain’s Social Point, a free-to-play mobile game developer of titles such as Dragon City, for at least $250 million.

The deal is a major step for Take-Two, the publisher of Grand Theft Auto and other big console and PC titles, to move into free-to-play mobile games. Overall, mobile games are a $40.6 billion market, according to a report released today by SuperData Research and Unity Technologies.