The Strategist

Electronic Arts sets to buy computer games developer Codemasters for $1.2B


12/15/2020 - 03:26



US computer games developer Electronic Arts (EA) has put forward its offer to buy UK games developer and publisher Codemasters.



Eliot Lash
Eliot Lash
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




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