EA Agrees $1.2 Billion Deal To Acquire Codemasters

Update (Mon 14th Dec, 2020 10:00 GMT): And just like that, the deal is on! As per GamesIndustry.biz, EA has agreed to acquire Codemasters for approximately $1.2 billion, with the deal set to complete in the first quarter of 2021.

Here's EA CEO Andrew Wilson had to say about the acquisition:

"Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment."

"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."

Original story (Sun 13th Dec, 2020 19:45 GMT): You might remember back in early November that Take-Two Interactive had reached an agreement to acquire Codemasters, but now EA is reportedly interested in gatecrashing the party.

According to a source at Sky News, EA is working with bankers at UBS on its offer for the studio which is potentially a "knockout bid", surpassing the deal that was agreed with Take-Two just over a month ago.

Sky says that the interest is likely to be disclosed to the stock market on Monday morning, but the value is currently unclear, "although it is likely to be at a substantial premium to Codemasters' closing share price on Friday of 534p."

We'll be keeping a close eye on this one over the next few days...

Would you prefer to see Codemasters acquired by Take-Two or EA? Give us your thoughts below.

[source gamesindustry.biz]