EA to Acquire Racing Game Developer Codemasters for $1.2 Billion USD

The creator of ‘Dirt 5,’ ‘DiRT Rally’ and the ‘F1’ franchise.

By
Gaming
1,181 Hypes 0 Comments

Electronic Arts has announced its plans to acquire British video game developer Codemasters, a racing genre expert most known for its DirtDiRT Rally and F1 franchises.

The new deal came after EA outbid Take-Two’s almost $1 billion USD offer to acquire the British company with its own $1.2 billion USD proposal, translating to an all-cash transaction of $7.98 USD per share from Codemasters. The arrangement is said to finalize during the first quarter next year, and will boost EA’s performance within the racing game genre, which has significantly weakened for them in recent years as its Need for Speed franchise started losing momentum among fans.

“We believe there is a deeply compelling opportunity in bringing together Codemasters and Electronic Arts to create amazing and innovative new racing games for fans. Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment,” wrote EA CEO Andrew Wilson in a company announcement. “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.”

For more business-related news, adidas is considering potentially selling Reebok.

Read Full Article

What to Read Next

'Demon Slayer: Kimetsu no Yaiba' Movie Surpasses ¥30 Billion JPY at the Japanese Box Office
Entertainment

'Demon Slayer: Kimetsu no Yaiba' Movie Surpasses ¥30 Billion JPY at the Japanese Box Office

Breaking a record previously held by ‘Spirited Away.’

Beats Recruits Verdy and Wasted Youth for Punk-Inspired Solo Pro
Tech

Beats Recruits Verdy and Wasted Youth for Punk-Inspired Solo Pro

Releasing with a video starring Travis Barker.

Classic Fairytales Inspire bentgablenits' Upcoming Sweater Release
Fashion

Classic Fairytales Inspire bentgablenits' Upcoming Sweater Release

Reworking deadstock cashmere pieces from The Elder Statesman.


$369,000 USD Charizard Sets New Pokémon TCG Record
Gaming

$369,000 USD Charizard Sets New Pokémon TCG Record

Two Charizards sold last week for a combined total of $719,000 USD.

Live Concert Industry Faces Over $30 Billion USD in Losses This 2020
Music 

Live Concert Industry Faces Over $30 Billion USD in Losses This 2020

A result of the COVID-19 pandemic.

weber and UNUSED Celebrate the Endless Iconicism of Disney's Mickey Mouse
Fashion

weber and UNUSED Celebrate the Endless Iconicism of Disney's Mickey Mouse

Along with a reproduction of a 1980s XXXL Flannel Shirt and Pants set.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.