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EA Buys Codemasters For US$1.2 Billion To Dominate Racing Games Genre

Geek Culture logo Geek Culture 15/12/2020 Germaine Wong
a close up of a toy car on a race track © Provided by Geek Culture

Electronic Arts has managed to successfully topple Take-Two Interactive with its US$1.2 billion bid for Codemasters, the developers behind numerous racing titles such as F1, Project Cars, and Dirt.

The deal EA has struck with Codemasters goes at a price of US$7.98 per share, which is more than Take-Two’s bid of US$969 million. 

a small plane parked on the side of a road © Provided by Geek Culture

“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 Gerhard Florin, Chairman of Codemasters, in a statement.

EA’s acquisition of Codemasters will mark the biggest deal made in EA’s history, though with how much the demand for gaming has risen since the coronavirus pandemic started, it is easy to see why EA is more than willing to put its money where it definitely feels is worth investing in. 

“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,” said Andrew Wilson, EA’s Chief Executive Officer.

The acquisition is expected to be complete within early 2021.

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