EA and Codemasters Reach Agreement for $1.2 Billion Purchase

Dirt 5

Even after it was thought that game company Take-Two Interactive was the one to purchase game developer Codemasters, in a surprising move game company EA has confirmed they have reached a deal with the studio just recently.

Dirt 5

According to EA, the deal with them and Dirt 5 creators have come to a whopping $1.2 billion. Take-Two Interactive’s proposal was $994 million and it seems the prior took the prior company’s deal.

Codemasters Chairman Gerhard Florin states:

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.

Electronic Arts CEO Andrew Wilson said:

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. 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. We are pleased that both our Boards of Directors are recommending this transaction, and we look forward to welcoming such an exciting and talented team to the Electronic Arts family.

Source: EA Press Release