Back in November, the US-based game publisher Take-Two Interactive, known for its labels, Rockstar Games, 2K, Private Division, and Social Point, offered to acquire UK-based videogame developer Codemasters for an implied equity value of $994 million US Dollars, which is roughly 845 million Euros, or £759 million Pounds.
Somewhat later, Take-Two Interactive Software, Inc. confirmed that both parties had reached an Agreement for Recommended Acquisition that was anticipated to be completed in the first quarter of calendar 2021. It was reported that Codemasters wlll retain its brand name and management staff under the T2 umbrella. Source: www.businesswire.com
Now thing have become somewhat more complicated. Sky News has reported that the American gaming industry giant, Electronic Arts is attempting to outbid Take-Two Interactive’s offer. The exact amount of the offer has not yet been revealed.
Sky News: Take-Two’s offer was a combination of cash and shares, meaning that the precise value of the proposals fluctuates according to changes in its own stock price in New York.
Some fund managers who own Codemasters shares have reportedly expressed dissatisfaction with the Take-Two deal because of its equity component and the comparatively modest premium it represented to the British company’s undisturbed share price. ( Source Sky News – Original Article)
The legendary Codemasters video game developer and publisher based in Southam, England, is well-known for its racing game franchises, with titles and game series such as the TOCA series, the Colin McRae Rally series, the Grid series, the official F1 gaming franchise, the Dirt Series, and more.
In 2008, Codemasters also acquired the Sega Racing development Studio, and more recently Codemasters took over Project CARS developer Slightly Mad Studios, bringing the total staff at Codemasters to about 700 people.
Last but not least, in June 2020 the studio secured an exclusive license to produce the World Rally Championship series of games beginning a five-year deal in 2023, with plans to release their first game in 2024.
About Take-Two Interactive Software
Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. Take-Two Interactive develops and publishes products principally through Rockstar Games, 2K, Private Division, and Social Point.
Their products such as Grand Theft Auto, Red Dead Redemption, BioShock, Borderlands, NBA 2K, and more are designed for various platforms such as console systems and personal computers, and mobile games for smartphones and tablets. The products are delivered through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO.
About Electronic Arts
Electronic Arts Inc. (EA) is an American video game company headquartered in Redwood City, California. It is the second-largest gaming company in the Americas and Europe by revenue and market capitalization after Activision Blizzard and ahead of Take-Two Interactive, CD Projekt, and Ubisoft as of May 2020.
Founded and incorporated on May 27, 1982, by Apple employee Trip Hawkins, the company was a pioneer of the early home computer game industry and promoted the designers and programmers responsible for its games as “software artists”. EA published numerous games and some productivity software for personal computers, all of which were developed by external individuals or groups until 1987’s Skate or Die!. The company shifted toward internal game studios, often through acquisitions, such as Distinctive Software becoming EA Canada in 1991. Currently, EA develops and publishes games of established franchises, as well as the EA Sports titles.
Their desktop titles appear on self-developed Origin, an online gaming digital distribution platform for PCs and a direct competitor to Valve’s Steam and Epic Games’ Store. EA also owns and operates major gaming studios such as EA Tiburon in Orlando, EA Vancouver in Burnaby, DICE in Stockholm and Los Angeles, BioWare in Edmonton and Austin, and Respawn Entertainment in Los Angeles.
Official Webpages – www.codemasters.com – www.take2games.com