EA seems to have beaten Take-Two and is set to acquire British racing studio Codemasters in a deal worth an estimated $1.2 billion.
Take-Two were originally planning to purchase the developer behind F1 games, Dirt and Grid but Electronic Arts have trumped them when it comes to dishing out more for the studio.
Codemasters said in a statement that EA’s offer was superior to Take-Two’s cash-and-stock buyout offer of 485 pence per share.
EA Chief Executive Officer Andrew Wilson
With the full leverage of EA’s technology, platform expertise, and global reach, this combination will allow us to grow our existing franchises and deliver more industry-defining racing experiences,
Citi analysts
We think Codemasters is an attractive asset with a lot of the qualities a consolidator might look for… It also has a strategic relationship with Chinese operator NetEase, offering a direct route in the lucrative Chinese market
About Codemasters
Codemasters have been making iconic games for over 30 years. We’re a world-leader in the development of racing titles, growing to over 450 fabulous human beings across our 3 UK studios – plus Kuala Lumpur and Pune in Asia. We’ve been guardians of some of the most adored intellectual property and are proud to be the home of DiRT and the official games of FORMULA ONE™.
As a proudly independent, ambitious developer we’re continuing our growth trajectory, and we’re building talented teams to move us further toward an even more exciting future. Our culture is inspiring, dynamic, supportive and inclusive, fostering an environment of creativity and curiosity. We’re continually seeking what we can achieve next.
