Take-Two set to buy Codemasters for nearly $1 billion
This could be a really big deal
We all know Codemasters are great at making motorsport games. That's a fact. You may know them from classics like F1 2012 to ground-breaking releases like the Dirt Rally series. So there's no denying Codemaster's ability to make a great game. The British videogame developer has now confirmed that they been bought by American firm Take-Two. This offer weighs in at a staggering $973 million which could bode well for Codemaster's future.
Codemasters was founded by David Darling and his brother Richard in 1986. Since then, they've released over fifty titles which is very impressive. Although they are well known for its F1 and Rally games, Codemasters have dabbled in other areas before. Codemasters tried its hand at attracting the cricket market by publishing, not developing Brian Lara Cricket and Jonah Lomu Rugby.
This announcement came on the same day as Codemaster's latest title, Dirt Rally 5, released on all platforms. The buyout deal works out at £1.20 in cash and £3.65 in Take-Two shares for every Codemasters share. Although pen hasn't been put to paper yet, the two companies have confirmed that this deal is indeed in negotiation. It has been agreed that a concrete deal has to be made by December 4th.
Take-Two isn't a stranger to big titles, previous work includes the 2K franchise, Red Dead Redemption 2, GTA V, L.A. Noire and many more. Take-Two's acquisition of Codemasters could drastically improve funding for future titles, including the annual release of the F1 games.
A spokesperson for Take-Two had this to say: "Take-Two believes that the combination of Take-Two and Codemasters would bring together two world-class interactive entertainment portfolios, with a highly complementary fit between 2K and Codemasters in the racing genre."
Codemasters have also been busy in buying out smaller firms such as Slightly Mad Studios, makers of the Project Car franchise. You can learn more about that particular deal here: