In early November, publisher Take-Two Interactive expressed its intention to purchase developer Codemasters, and the two companies ultimately agreed to a deal that would see Take-Two hold ownership of the British developer. However, EA has decided to gate-crash the Take-Two / Codemasters party by placing its own, more lucrative bid.
Similar to the deal Codemasters had previously agreed to, share prices play a substantial role in the purchase. Ultimately, EA has committed to purchase Codemmasters for a value of $1.2 billion, more than the $994 million Take-Two had offered. The surprising turn of events that EA may buy Codemasters was first reported on over the weekend, before EA officially announced that an agreement had been made this morning.
“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.” said Andrew Wilson, CEO of Electronic Arts. The post also discussed EA’s plans in regards to Codemasters and EA series, mostly just discussing in the broadest terms how synergy will be had between development and marketing teams.
While the EA deal seems secured, I’m left wondering if a bidding war might occur. The wording of the EA press release is similar to that of Take-Two’s words, and this deal might not be over yet. Then again, EA has a bigger checkbook than Take-Two. Let’s see how this one plays out.
Would you rather see Take-Two or EA own Codemasters?