EA agreed to purchase mud Codemasters, the developer of a contract that values UK studios at around $ 1.2 billion.
This purchase is noteworthy for several reasons, as it will only take place a few weeks after Take-Two announces that it will acquire Codemasters for approximately $ 994 million.
At the time, Take-Two Chairman Strauss Zelnick described the studio’s racing portfolio as “very complementary” to its range of sports franchises, saying the deal would be completed by the first quarter of 2021. I did.
However, the EA barely shattered these plans and gate-crashed the Take-Two deal with a unique offer currently accepted by the Codemasters board of directors.
Like Take-Two, EA said it was keen to take advantage of Codemasters’ various racing franchises. Formula one, mud, Project car, grid,and Dirt Rally, And combine them with your own series and brands.
The US publisher also “accelerates Codemasters performance by leveraging deep expertise in live service operations, game analytics and technology,” while at the same time centralizing development technology, art and motion to UK studios. Proposed to allow access to the service team. Quality verification etc.
The company’s overall mission is to enhance the existing capabilities of Codemasters while expanding the franchise market. As a result, the studio’s existing management team, including CEO Frank Sagnier and CFO Rashid Varachia, will continue to lead the business after the acquisition.
“We believe there is a very fascinating opportunity to bring Codemasters and Electronic Arts together to create amazing and innovative new racing games for our fans. Our industry is growing and racing. The category is growing and we are in a position to lead a new era together. For Racing Entertainment, “said Andrew Wilson, Chief Executive of EA.
“We have long admired Codemasters’ creative talent and high-quality games. By taking full advantage of EA’s technology, platform expertise and global reach, this combination brings us to an existing franchise. Can grow and provide an industry-defining racing experience to the global fan base. “
update: Take-Two noted the announcement by EA and said he is currently “considering that position” in relation to Codemasters.
In a brief statement, the company said it would make another announcement to clarify its position “when appropriate,” but at the time of writing, Codemasters seems keen to promote the EA contract. That’s right.
“Take-Two Interactive Software, Inc. announced today that Codex Games Limited, an indirect subsidiary of Electronic Arts Inc., has announced a firm intention to offer Codemasters Group Holdings plc for 604 pence for each Codemasters share it holds. “Announcement by the Codemasters Board of Directors to change the recommendations from Take-Two’s acquisition of Codemasters in support of Electronic Arts’ offer,” said the Take-Two statement.
“Take-Two is considering its position in relation to Codemasters and will announce more as needed.”