The offer values Codemasters at $1.2bn ($7.98 per share), which is significantly more than the offer made to the British company in November by another US game developer, Take-Two Interactive Software.
In the price fight surrounding Codemasters, one of the UK’s oldest game developers, EA, which is among the world’s biggest game developers and has a market capitalisation of $40bn, has the advantage so far.
EA’s portfolio includes the FIFA series, NHL, Need for Speed, The Sims and others. Take-Two has half the market value of EA, with games such as Max Payne, Grand Theft Auto, Red Theft, Mafia and others in its portfolio.
EA says in a statement that it has already reached an agreement with Codemasters to buy it, with the deal due to be finalised in the first quarter of 2021.
Meanwhile, a similar agreement was struck with Codemasters and Take-Two Interactive when it made its purchase offer in November. Take-Two valued each Codemasters share at 485p ($6.39), putting the entire UK company at $994m. Take-Two has yet to make a statement on whether it will raise its offer to beat EA.
source: bloomberg.com
