Image: Codemasters/Deep Silver
Electronic Arts will buy Codemasters for $1.2 billion, overtaking an earlier bid by Take-Two Interactive to acquire the racing video games developer and publisher.
EA announced the deal in a news release very early Monday morning, adding that it expected the deal to complete in the first quarter of 2021. Take-Two also said it expected a first quarter closing when it announced its $994 million bid in November.
Sky News on Sunday reported that EA was pursuing Codemasters despite Take-Two’s standing offer. The British broadcaster said it is unknown if Take-Two could respond with a counter-proposal. Its market capitalization ($21.8 billion) is roughly half of EA’s ($39.9 billion).
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Electronic Arts to buy UK s Codemasters in $1 2 bln deal
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