Just before the end of 2020, a bidding war began for Codemasters, the big, racing-focused publisher and developer.
Take-Two Interactive put in an offer to acquire the company, but a few weeks later, Electronic Arts made a significantly larger bid. Now, it looks like the latter has strong-armed the former out of the deal.
Take-Two has announced it has pulled its initial offer of $980 million, and Codemasters’ board withdrew its recommendation, leaving EA to scoop up the racing game firm.
That seems like a done deal at this point, with the acquisition set to become official in the first quarter of this year. Once all the official business is dealt with, EA will have obtained Codies and all its IP and licenses, meaning F1, GRID, DIRT, WRC, Project CARS, and more will join Need for Speed in the publisher’s garage.
Meanwhile, it looks like Take-Two will be looking into other acquisitions in the future. “Take-Two remains a highly disciplined organization and, with its strong balance sheet, will continue to pursue selectively organic and inorganic opportunities that are designed to enhance the Take-Two’s long-term growth and deliver results to its shareholders,” reads its statement.
So, there you go. Codemasters is (almost) in the EA camp. How do you feel about this development? Fasten your seatbelts in the comments below.