Take-Two in talks to acquire F1 developers Codemasters for a reported $973 million
Reportedly, British racing game developer Codemasters is in negotiations with Rockstar owner Take-Two to be acquired in the near future.
Codemasters has built a well-deserved reputation for itself over the course of decades as one of the foremost racing simulation developers in gaming. The company still works on the popular licensed F1 franchise of games, as well as the more offroad-centric Dirt series. Now, it would seem as if it could be stepping under the umbrella of major media company Take-Two alongside Rockstar and 2K. Take-Two Interactive and Codemasters are reportedly in talks for the latter to be acquired to the tune of $973 million.
The dealings were recently revealed by spokespersons from Codemasters, as reported by Reuters on November 6, 2020. According to the report, Take-Two Interactive apparently approached Codemasters with the deal, valuing the company at 739.2 million pounds and will be paid at 120 per share in cash and 365 per share in Take-Two shares. Upon reveal of the deal, Codemaster’s stock shares were up 8.6% to 470 pence following the announcement, while Take-Two Interactive’s shares were up 2.9%.
There is little reason to doubt that Take-Two is after the incredible racing game pedigree associated with Codemasters. The latter has been creating top-tier racing titles for the better of three decades in its 36 years of existence. That is up to and including a successful launch of F1 2020, and coming in just around the launch of the promising Dirt 5. With massively successful gaming companies such as Rockstar and 2K under its belt, and even the success of its more indie-focused Private Division, which helped launch the Obsidian Entertainment hit The Outer Worlds, Codemasters would be in good company among the Take-Two Interactive stable.
The deals is apparently still in the works, but with Codemasters reporting the deal, and Take-Two apparently behind the offer, it only seems like a matter of time until negotiations are settled. Stay tuned as we await further information on the finalization and announcement of acquirement.
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replyTJ Denzer posted a new article, Take-Two in talks to acquire F1 developers Codemasters for a reported $973 million
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Holy shit. That's one way to break into racing games. Codemasters has been going forever as a private company but I'm amazed they lasted so long on a couple of racing games a year. A friend who worked there mentioned some Indian investor has slung them millions over the years, although that was a while ago now.
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