Just a few days ago, Take-Two Interactive’s interest to acquire developer Codemasters came to light. That acquisition will now go ahead as planned, as the two companies have agreed to a deal that will place Codemasters under the Take-Two banner.
The transaction puts an implied equity value of approximately $994 million on the British developer. That amount won’t all be paid up front, as the purchase is split between shares and a straight cash price. It’s still a huge sum though, as publisher Take-Two Interactive looks to expand with Codemasters in 2021.
“We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters,” said Chairman and CEO of Take-Two Strauss Zelnick. “Codemasters has a renowned history of creating some of our industry’s most beloved and commercially successful racing franchises, and we believe that their offerings will be highly complementary to our sports portfolio and enhance further our organization’s long-term growth.”
Codemasters is indeed primarily known for its racing game chops. The developer consistently delivers high-quality racing games across a multitude of different series. These include F1, Dirt, Grid, Project CARS, and Onrush, with Dirt 5 recently releasing on PC, Xbox, and PlayStation systems.
The deal as it stands may mean little for Nintendo Switch players. Codemasters has only released a port of Grid Autosport on the system, with its other games focusing on more powerful hardware. However, the deal could lead to Take-Two pushing for more Codemasters releases on all available platforms. The developer did recently secure the WRC license from 2023 onwards, a series that has recently released on Switch.
What Codemasters series would you like to see Take-Two Interactive bring to Switch?