Codemasters EA News Take-Two

EA Is Now Buying Codemasters After Outbidding Take-Two

Electronic Arts has outbid Take-Two to acquire British developer Codemasters for a whopping $1.2 billion.

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.

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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