BeQuiet Jubiläum Banner 970x90
Breaking News

Cyberpunk 2077 Brings a Taste of the Future With DLSS CORSAIR Launches RMx SHIFT ATX 3.0 PSUs Panasonic introduces Next-Generation 1-Chip DLP Projectors KLIPSCH EXPANDS HIGH RESOLUTION POWERED SPEAKER SERIES Acer Launches Durable TravelMate Laptops and Chromebook Vero for Education

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Electronic Arts is buying Codemasters for $1.2 billion

Electronic Arts is buying Codemasters for $1.2 billion

Gaming Dec 14,2020 0

Electronic Arts announced that it has reached an agreement with the Board of Codemasters for the recommended acquisition of Codemasters, the UK-based game developer and publisher. 
Codemasters is one of the oldest British game developers, having been founded in the ‘80s and producing early hits like Dizzy for systems that were popular in the UK like the ZX Spectrum and the Commodore 64. In recent decades it’s been best known for creating racing games like the Dirt, Grid, and Formula 1 series, and last year acquired the developer behind Project Cars.
In the transaction, Codemasters' shareholders will be entitled to receive 604 pence (approximately US$7.98*) in cash for each ordinary share of Codemasters with an implied enterprise value of US$1.2 billion*. The acquisition is anticipated to be completed in the first quarter of calendar 2021.
“Electronic Arts and Codemasters have a shared ambition to lead the video game racing category. The Board of Codemasters firmly believes the company would benefit from EA’s knowledge, resources and extensive global scale – both overall and specifically within the racing sector. We feel this union would provide an exciting and prosperous future for Codemasters, allowing our teams to create, launch and service bigger and better games to an extremely passionate audience,”said Gerhard Florin, the Chairman of Codemasters.  
“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. 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. We are pleased that both our Boards of Directors are recommending this transaction, and we look forward to welcoming such an exciting and talented team to the Electronic Arts family,”said Andrew Wilson, CEO of Electronic Arts.
Strategic Rationale:

  • Electronic Arts believes the combination of EA and Codemasters will enable further growth and success for Codemasters and EA’s popular and innovative racing franchises.
  • Bringing together the combined expertise and talent from Codemasters’ critically-acclaimed sports and racing franchises Formula One, DiRT, DiRT Rally, Grid and Project Cars with EA’s global Need for Speed franchise, fan-favorite Real Racing mobile game and EA SPORTS brands will enable our teams to innovate further, and meaningfully increase the delivery of content and experiences to a growing, global audience for racing entertainment.
  • Codemasters’ deep creative talent which has produced high-quality racing games for many years, including the Formula One franchise that continues to deliver great entertainment for F1’s growing fan base.
  • EA believes it can help accelerate Codemasters’ performance by leveraging EA’s deep expertise in live services operations, game analytics and technology. In addition, EA’s central services teams across development technology, art & motion capture, quality verification, compliance, and localization will all be resources available to Codemasters.
  • EA’s global publishing, marketing and game development support capabilities will also strengthen Codemasters’ existing capabilities, expanding the addressable market for Codemasters’ franchises.
  • The combination of Codemasters and Electronic Arts will enable the development and delivery of a market-leading portfolio of creative and exciting racing games and content to more platforms and more players around the world.
  • The union also creates ongoing and expanded ways for players to engage with the combined portfolio of sports and racing games through EA’s industry-leading multi-platform subscription services.
  • Bringing together Codemasters and Electronic Arts also delivers compelling financial benefit to the combined group. The acquisition is expected to grow net bookings and underlying profitability.
  • Frank Sagnier, Chief Executive Officer of Codemasters, and Rashid Varachia, Chief Financial Officer of Codemasters, along with the senior executive management team of Codemasters intend to remain with Codemasters following completion of the acquisition and will continue to lead the Codemasters business within EA’s organization.

*US$ equivalent values are stated at an exchange rate of US$ 1.3211:£1 on December 11, 2020. Enterprise value based on Codemasters’ audited balance sheet as of March 31, 2020.

Tags: Electronic ArtsCodeMasters
Previous Post
CD Projekt RED Offers Refunds for buggy CyberPunk 2077 game to PS4/Xbox users
Next Post
Biostar announces launch of their brand new B550M-SILVER motherboard.

Related Posts

  • EA Gets hacked - 780GB of data and sourcecode stolen

  • EA's Black Friday sale discounts 225 PC games as low as $5

  • EA and Activision Report Booming Profits as Videogames Sales Surge

  • Real Footballers to Compete in EA's FIFA 20 Charity Tournament

  • Formula 1 Drivers to Compete In Codemasters' F1 2019 PC Virtual Grand Prix Series

  • EA Suspends all Gaming Live Events

  • EA's New Games For 2020

  • EA Returns to Steam With New Games

BeQuiet Jubiläum Banner 300x600

 

Latest News

Cyberpunk 2077 Brings a Taste of the Future With DLSS
GPUs

Cyberpunk 2077 Brings a Taste of the Future With DLSS

CORSAIR Launches RMx SHIFT ATX 3.0 PSUs
PC components

CORSAIR Launches RMx SHIFT ATX 3.0 PSUs

Panasonic introduces Next-Generation 1-Chip DLP Projectors
Consumer Electronics

Panasonic introduces Next-Generation 1-Chip DLP Projectors

KLIPSCH EXPANDS HIGH RESOLUTION POWERED SPEAKER SERIES
Consumer Electronics

KLIPSCH EXPANDS HIGH RESOLUTION POWERED SPEAKER SERIES

Acer Launches Durable TravelMate Laptops and Chromebook Vero for Education
Enterprise & IT

Acer Launches Durable TravelMate Laptops and Chromebook Vero for Education

Popular Reviews

Withings Thermo Wi-Fi-connected temporal thermometer

Withings Thermo Wi-Fi-connected temporal thermometer

EnGenius ECW230 Access Point

EnGenius ECW230 Access Point

Withings Sleep Analyzer

Withings Sleep Analyzer

Withings Body Plus Scale

Withings Body Plus Scale

Noctua NH-D12L CPU Cooler

Noctua NH-D12L CPU Cooler

EnGenius ECW230S AP

EnGenius ECW230S AP

Scythe Fuma 2 CPU Cooler

Scythe Fuma 2 CPU Cooler

be quiet! Pure Rock 2 FX

be quiet! Pure Rock 2 FX

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed