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EA Acquires Racing Experts Codemasters
By Alleef Ashaari|December 14, 2020|0 Comment
It looks like Take-Two’s acquisition of Codemasters has failed. EA has officially announced that they have acquired Codemasters for a whopping US$1.2 billion.
According to the press release, the acquisition is anticipated to be completed in the first quarter of calendar 2021.
Codemasters Chairman Gerhard Florin said:
“Electronic Arts and Codemasters have a shared ambition to lead the video game racing category.
The Board of Codemasters firmly believes the company would benefit from EA’s knowledge, resources and extensive global scale – both overall and specifically within the racing sector.
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.â€
EA CEO Andrew Wilson 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.
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.
We are pleased that both our Boards of Directors are recommending this transaction, and we look forward to welcoming such an exciting and talented team to the Electronic Arts family.â€
The “strategic rationale” provided by EA for the acquisition of Codemasters is as follows:
It’s important to point out that Formula One, DiRT, DiRT Rally, Grid, Project Cars, Need for Speed and Real Racing are now under one roof.
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).
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