Games

EA defeats Take-Two and announces $ 1.2 billion in deals to Codemasters

Electronic Arts will buy Codemasters for $ 1.2 billion, surpassing previous bids by Take-Two Interactive and acquiring developers and publishers of racing video games.

The EA announced the deal in a news release early Monday morning, adding that it expects the deal to close in the first quarter of 2021. Take-Two also said it expected the first quarter to complete when it announced a $ 994 million bid in November.

Sky News on Sunday reported that EA is pursuing Codemasters despite Take-Two’s permanent offer. A British broadcaster said it was unclear if Take-Two could respond with a counter-proposal. Market capitalization ($ 21.8 billion) is about half that of EA ($ 39.9 billion).

Electronic Arts’ last-minute play combines the marketing, licensing and publishing power of EA Sports with the world’s leading developers of racing video games known for their F1, Dart and Grid franchises.

Andrew Wilson, CEO of Electronic Arts, said his company “has admired Codemasters’ creative talent and high-quality games for many years.

“By maximizing EA’s technology, platform expertise, and global reach, this combination will allow us to extend our existing franchises and provide an industry-defining racing experience to our global fan base. It will be, “Wilson added.

Similarly, Codemasters Chairman Gerhard Florin thought the union was suitable for both. “The Codemasters Board of Directors is confident that EA’s knowledge, resources, and broad global scale will benefit the company overall, especially within the racing sector,” Florin said in an EA statement. Stated.

In driving games, Electronic Arts is best known for its action / heroic racing Need for Speed ​​series. Its latest title is a remaster of Criterion Games’ 2010 hit. Need for speed: hot pursuit.. With an inconsistent decade of launches, EA reorganized its approach to the series earlier this year, closing the Swedish Gothenburg studio that produced the last three games and returning to Criterion in the United Kingdom.

This is another important deal for a little over a year for the UK-based Codemaster. In late November, Codemasters purchased Slightly Mad Studios and added the Project Cars simulation franchise to the stables. With a $ 30 million transaction, Codemasters employs more than 700 people worldwide. However, Project car 3 We announced a significantly lower score in August.

The latest launch of Codemasters Dirt 5, Two predecessors or more arcade-oriented racers than the F1 series. The last time EA Sports participated in a fully licensed motorsport simulation NASCAR 09 09 In 2008.

https://www.polygon.com/2020/12/14/22173751/ea-buys-codemasters-electronic-arts-take-two-outbid

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