The news broke earlier this morning after it was reported that EA had muscled in on Take-Two’s plans to acquire the racing developer for $994 million last month. The deal is expected to be completed in the first quarter of 2021. It isn’t known if Take-Two offered a counterbid at this point.
Codemasters is best known for working on some of the industry’s biggest racing franchises, including Formula One, DiRT and Grid.
Andrew Wilson, chief executive at EA, commented:
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 to a global fan base.
Gerhard Florin, chairman of Codemasters, added:
The Board of Codemasters firmly believes the company would benefit from EA’s knowledge, resources, and extensive global scale — both overall and specifically within the racing sector.
Source – Polygon