Electronic Arts has finalized the acquisition of Codemasters upon completion of the purchase. According to the company, the company paid 604 pence (approx. $ 8.37) in cash for each common share, which meant that the acquisition of the racing game specialists would cost $ 1.2 billion.
The publisher describes the merger as an “exciting new era in racing game entertainment”.
“This is the beginning of an exciting new era of racing games and new content where we bring together the talented teams of Electronic Arts and Codemasters”said Andrew Wilson, CEO of Electronic Arts. “The racing fan base continues to grow worldwide and the game series in our joint portfolio will enable us to create innovative new gaming experiences and take more players into the exciting world of cars and motorsports. Our teams are becoming a world-leading developer in the field racing entertainment with fantastic games for gamers on all platforms. We can’t wait to get started together. “
“Today is a milestone in the history of Codemasters and an exciting day for all of our employees and players”, said Frank Sagnier, CEO of Codemasters. “The partnership with EA will enable our teams to further expand and improve our critically acclaimed franchises and reach a huge audience worldwide through EA’s player network. Together, we can redefine the genre of racing games to create even more engaging gaming experiences for fans of the all over the world. ”
The acquisition of Codemasters is part of the company’s growth strategy, according to Electronic Arts. The publisher expects the acquisition to result in higher net profits and an overall increase in profitability.
Take-Two had also flirted with taking over the British racing game studio, but wanted to avoid a potential bidding competition with Electronic Arts and withdrew again.