Redwood City, California-based Electronic Arts Inc. (NASDAQ: EA) has reached an agreement with the Board of Codemasters for the recommended acquisition of Codemasters, the UK-based game developer and publisher. In the transaction, Codemasters’ shareholders will be entitled to receive 604 pence (approximately US$7.98*) in cash for each ordinary share of Codemasters with an implied enterprise value of US$1.2 billion*. Bringing together the combined expertise and talent from Codemasters’ sports and racing franchises Formula One, DiRT, DiRT Rally, Grid and Project Cars with EA’s global Need for Speed franchise, fan-favorite Real Racing mobile game and EA SPORTS brands will enable the teams to innovate further, and increase the delivery of content and experiences to a growing, global audience for racing entertainment.