The world of gaming woke up to a huge deal yesterday. One of the biggest gaming companies in the world, Electronic Arts, announced that they acquired Codemasters, a company known for developing racing games. Please hold on, I haven’t yet given the most noteworthy aspect of the deal: the agreement’s total value is $1.2 billion.
Earlier this week, the UK-based media channel Sky News reported the interest of Electronic Arts for buying Codemasters, even though Codemasters and Take-Two had an agreement last month for $970 million. However, it looks like EA beat its rival company in a bidding war. According to EA, the deal will be completed in the first quarter of 2021. This will also be the biggest acquisition in the company’s history.
The chairman of Codemasters, Gerhard Florin, shared his thoughts about the deal in the press release: “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.” he said. “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.”
Founded in 1986, Codemasters has been focusing on racing games and is known as the developer of F1 series, Grid and Dirt. After the agreement, Electronic Arts will hold the rights to the strongest racing titles in the field, including Need for Speed.
“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,” the CEO of Electronic Arts, Andrew Wilson, said. “Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment.”
If things go as expected, the future of the racing games will be in EA’s hands.