EA Confirm Takeover of Codemasters
Electronic Arts have agreed to buy out popular video game developer, Codemasters. Known for games such as the Formula One franchise, Dirt and Project Cars, Codemasters is one of the oldest UK games developers – created almost 40 years ago in 1986. With EA already owning the popular street racing game ‘Need for Speed’, it seems like Electronic Arts want to increase their racing catalog. Andrew Wilson, the CEO of EA said “We believe there is a deeply compelling opportunity in bringing together Codemasters and Electronic Arts to create amazing and innovative new racing games for fans,”
Written By Tom Macpherson, Edited by Justin Tan
Talks about the takeover were published a few months back in December but today it was announced that EA had acquired Codemasters. Although the amount of money isn’t confirmed, it is around £6.04 (~$7.98) a share, which values Codemasters at around $1.2 billion.
“Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment.” Wilson went on to say “Racing fandom continues to grow worldwide, and the franchises in our combined portfolio will enable us to create innovative new experiences and bring more players into the excitement of cars and motorsport. Our teams will be a global powerhouse in racing entertainment, with amazing games for players on every platform, and we can’t wait to get started.”
Codemasters CEO Frank Sagnier added: “Today is a landmark in Codemasters’ history, and an exciting day for our employees and players.
“The partnership with EA will enable our teams to take our highly-acclaimed franchises to new heights and reach a huge global audience through their player network. Together we can redefine the landscape of racing games to create even more compelling experiences for racing fans around the world.”
The UK games developer was set to be acquired by Take-Two Interactive who were hoping to add Codemasters to their selection alongside 2K and Rockstar Games. The deal was valued at just under $1 Billion and was expected to go through until EA came through with a larger offer. It is confirmed that EA will have little to no input in Codemaster’s next F1 game in the franchise, F1 2021 which is due to be released this summer, however, there is a deal of uncertainty for the games that follow.