Codemasters has called off the acquisition deal with Take-Two Interactive. Instead, the British racing games giant has reportedly signed a deal with the popular Electronic Arts. Apparently, Electronic Arts has agreed to acquire Codemasters for a whopping $1.2 billion.
EA has been interested in the company for quite some time now, as yesterday’s report has revealed. Apparently, EA was looking to invest in the company, but things have progressed much further now.
“We feel this union would provide an exciting and prosperous future for Codemasters, allowing our teams to create, launch and service bigger and better games to an extremely passionate audience”, said Codemaster’s chairman Gerhard Florin regarding the acquisition.
On the other side, we have CEO of EA, Andrew Wilson, who added, “Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment. We have admired Codemasters’ creative talent and high-quality games for many years. 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.”
Although Codemasters has a plethora of racing games and is most popular especially for this genre of gaming, EA has its own record makers when it comes to racing games.
Some of EA’s current racing games include titles such as Need for Speed and Burnout and is centered around arcade open-world titles. Codemaster comes with its own popular tracks and simulation racers such as DiRT, DiRT Rally, F1, Grid, and Project CARS.
The heads of Codemasters – CEO Frank Sagnier, CFO Rashid Varachia, as well as the senior executive management team, will continue to lead the company even after the company goes under Electronic Arts. The deal is scheduled to be completed in the first quarter of 2021.