Electronic Arts Outruns Take-Two in Codemasters Race
Electronic Arts said it had reached an agreement to buy Codemasters in a deal worth $1.2 billion, beating rival video games maker Take-Two Interactive Software to the finish line for the British company.
Codemasters shares surged 18.7 percent to $8.63, above EAâs offer of $8.17 per share. UK-based Codemasters, known for its Formula One, DiRT Off-Road Racing, Fast & Furious high-speed action, and Grid video games, said it considered the new bid to be superior to the $6.56 per share offer from Take-Two. Take-Two said it was considering its position.
Activision Blizzard Inc., Take-Two, and EA have all benefited from a surge in video game sales in the US, due in part to more people spending time indoors due to the pandemic. But could this trend reverse itself next year, as people begin vaccinating against COVID-19?
Electronic Arts to Buy Codemasters in $1.2 Billion Deal, Will Deliver An Industry-Defining Racing Experience
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Video games maker Electronic Arts said on Monday that it has reached an agreement to buy Codemasters in a deal worth $1.2 billion (roughly Rs 8,836 crores), trumping an earlier agreement between the British company and rival Take-Two Interactive Software. Shares in London-listed Codemasters surged 18.7 percent to 637.84 pence by 08:45 GMT – above the 604 pence per share offered to the company’s shareholders by EA.
UK-based Codemasters, known for its Formula One games for Playstation 4, said it considered the new offer to be superior to Take-Two’s cash-and-stock buyout offer of 485 pence per share. Take-Two said it was considering its position. California-based EA, as well as rivals Activision Blizzard Inc and Take-Two, have benefited from a surge in videogame sales in the United States fueled by the trend of people spending more time indoors due to the
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Electronic Arts outbids Take-Two with US$1.2 billion deal for Codemasters Video games maker Electronic Arts said on Monday it had reached an agreement to buy Codemasters in a deal worth US$1.2 billion, trumping an earlier agreement between the British company and rival Take-Two Interactive Software.
An Electronic Arts office is shown in Los Angeles, California, U.S., July 27, 2020. REUTERS/Mike Blake
14 Dec 2020 05:10PM Share this content
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REUTERS: Video games maker Electronic Arts said on Monday it had reached an agreement to buy Codemasters in a deal worth US$1.2 billion, trumping an earlier agreement between the British company and rival Take-Two Interactive Software.
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EA swoops in to buy Codemasters
California-based game company Electronic Arts, producer of the FIFA franchise, has offered almost a billion euros for the British racing simulator specialist. Sales of video games have surged during the pandemic.
Codemasters makes the F1 racing games and other leading racing titles
Video game giant Electronic Arts has said it would buy Britain s Codemasters in a deal worth $1.2 billion (€987 million).
The offer trumps an earlier agreement between the British company and rival Take-Two Interactive Software.
UK-based Codemasters said Monday the new offer was superior to Take-Two’s cash-and-stock buyout offer of 485 pence per share.