EA has just announced that it has plans to acquire the U.K.-based video game developer Codemasters, known for their expertise in the racing genre a with game franchises such as Dirt, DiRT Rally & F1.
The acquisition deal comes following EA out-bidding Take-Two for Codemasters with a whopping $1.2 billion USD meaning that EA set the share price at $7.98 USD per share of the U.K. developer. The deal is scheduled to be finalized in Q1 of 2021 and will significantly increase EA’s capabilities with the racing genre that has been declining alongside their flip-flopping Need For Speed franchise that has gotten much fan criticism over the past few years.
Andrew Wilson, CEO of EA had this to say in a company announcement: “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,” he continued “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.”
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