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| EA acquires racing giant Codemasters |
The famous game development company (Electronic Arts) announced today (Monday) that it has signed a deal to acquire a British company (Codemasters) specializing in developing racing games for $ 1.2 billion.
The new deal with EA resulted in Codemasters signing a previous deal with rival game developer Take-Two Interactive, which last month agreed to acquire the British company for £ 726 million ($ 971 million).
In a statement, Codemasters said, “The Codemasters Board examined all aspects of the EA Offer and concluded that EA's proposal in connection with the Take-Two Offer is too much for Codemasters to share.
EA said Codemasters shareholders will receive £ 6.04 in cash per common share of Codemasters. She added that the deal is expected to end in the first quarter of 2021.
The acquisition of Codemasters is the biggest deal in EA's history, just as the video game industry is exploding and the Coronavirus pandemic is accelerating demand for games.
In September last year, Microsoft announced that it would acquire ZeniMax Media, owner of Bethesda Softworkds, a popular gaming studio, for $ 7.5 billion. It's the largest game purchase in Microsoft's history.
Codemasters are known for making Formula 1 cars and dirt. With this acquisition, EA is expected to offer an even better lineup of racing games including the popular racing game series "Need for Speed".
In the US beta, the game maker's share price rose 0.8%.
"It's clear that EA wants to be recognized as the leading publisher of racing games," said Louise Shortthus, chief games analyst at CNBC's Ampere Analysis.
Shortus added that the deal may allow Codemasters to play games for more users as their games will likely be launched through the EA Play subscription service, which is also available through the platform. Microsoft subscription.