Until last month, Take-Two Interactive was rumored to be in the final stages of purchasing Codemasters, a UK-based developer. In this transaction, shareholders were entitled to cash and shares in Take-Two shares, which from the press release all appeared to be a completed transaction.
Strauss Zelnick, Chairman and CEO of Take-Two, said: “Codemasters has a well-known history of creating some of the industry’s most beloved and commercially successful racing franchises, and their products are a great complement to our sports portfolio and long-term for the organization. In addition, we welcome Codemasters’ senior management and development team to the Take-Two family to provide the highest quality entertainment experience and make the industry’s most innovative, creative and efficient company. We look forward to sharing our vision of aiming. “
This was November 10th. Today, just a month after that date, Electronic Arts stormed and bought Codemasters from under Take-Two Interactive. The transaction is worth US $ 1.2 billion and is expected to close within the first quarter of 2021.
“Electronic Arts and Codemasters have a common ambition to lead the category of video game racing. Codemasters’ board of directors, overall, especially from EA’s knowledge, resources, and broad global scale. We firmly believe that the company will benefit within the racing sector, “said Gerhard Florin, President of Codemasters. “This union will provide Codemasters with an exciting and prosperous future, enabling teams to create, launch and serve highly passionate viewers of bigger, better games. thinking about.”
Owned by EA Need for Speed And Burnout, It makes perfect sense to give Codemasters the opportunity to work on these franchises. The deal between EA and Codemasters seems more appropriate, thanks to the games they have developed. That said, this is an interesting event about something that looked like last month’s deal.
I hope EA doesn’t become another corpse. This is known to happen in a studio you purchased earlier.