Electronic Arts to Buy Codemasters in $1.2 Billion Deal, Wil

Electronic Arts to Buy Codemasters in $1.2 Billion Deal, Will Deliver An Industry-Defining Racing Experience


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 COVID-19 pandemic. But that trend could reverse next year as countries begin vaccinating people against COVID-19.

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