UPDATE: Electronic Arts (EA) have confirmed they have acquired Codemasters for approximately $1.2 billion USD, despite prior agreements with Take-Two Interactive.
While early reports claimed EA had offered a bid of $957.9 million USD, an official press release confirms that figure is closer to $1.2 billion USD. This is based on “Codemasters’ audited balance sheet as of March 31, 2020.” GamesIndustry.biz reports Take-Two Interactive’s offer was $870 million USD.
The press release discusses how both organizations hope to benefit from growth and successes via racing game franchises; including F1, Dirt, Dirt Rally, Grid, Project Cars, Need for Speed, Real Racing, and EA Sports brands. EA also states they believe they can aid Codemasters via “deep expertise in live services operations, [and] game analytics and technology.”
Further, EA state “the union also creates ongoing and expanded ways for players to engage with the combined portfolio of sports and racing games through EA’s industry-leading multi-platform subscription services.” The acquisition aims completed in the first quarter of 2021.
“We feel this union would provide an exciting and prosperous future for Codemasters,” said Codemasters’ chairman Gerhard Florin, “allowing our teams to create, launch and service bigger and better games to an extremely passionate audience.”
Electronic Arts (EA) have reportedly swiped Codemasters with a $957.9 million USD takeover bid, despite prior agreements with Take-Two Interactive.
Sky News reports according to an “industry source,” EA “gatecrashed” bidding for the developer and publisher with a £725 million GBP takeover bid (est. $957.9 million USD). The move is surprising, considering we previously reported Take-Two Interactive were set to acquire them, and both companies had announced they agreed to the deal.
Codemaster’s most recent title was Dirt 5; available on Windows PC [via Steam], PlayStation 4, PlayStation 5, Xbox One, Xbox Series X, and early 2021 on Google Stadia. The studio’s pedigree also includes the F1 series, and older non-racing series such as Overlord.
Sky News theorize whether Take-Two will make a counterbid. A Codemasters spokesman declined to comment to Sky News, who also report EA could not be reached for comment.
Image: Dirt 5 (Steam)