Electronic Arts confirmed reports this morning that it has reached an agreement to acquire UK-based game developer and publisher Codemasters, valuing the company at approximately $1.2 billion.
The deal is anticipated to be completed in Q1 2021, and comes at a surprise as rival publisher Take-Two Interactive had only agreed to buy Codemasters for close to $1 billion last month.
"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," commented Gerhard Florin, the Chairman of Codemasters.
Codemasters is best known for its sports and racing franchises Formula One, DiRT, DiRT Rally, etc. while EA owns the Need for Speed franchise and mobile game Real Racing.
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