Take-Two Interactive has announced that it has acquired games developer Codemasters for US$994 million, which will be completed sometime in the first quarter of 2021.

According to the official website, Take-Two Interactive Chairman and CEO Strauss Zelnick said:

“We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters.

Codemasters has a renowned history of creating some of our industry’s most beloved and commercially successful racing franchises, and we believe that their offerings will be highly complementary to our sports portfolio and enhance further our organization’s long-term growth.

Moreover, we look forward to welcoming Codemasters’ senior management and development teams into our Take-Two family, and sharing in our vision to deliver the highest quality entertainment experiences and aim to be the most innovative, creative and efficient company in our industry.”

Codemasters is best known for its racing games, such as the annual F1 franchise and Dirt series, the most recent of which was Dirt 5 (check out our review here).