Take-Two Interactive’s attempt to purchase Codemasters, the publisher of Dirt 5 and other racing games, may have been gatecrashed by Electronic Arts. The gaming giant is reportedly attempting to outbid Take-Two, which was set to acquire Codemasters last month using a mix of cash and shares.
Take-Two reached an agreement with Codemasters to purchase the company for roughly $960 million in November. The acquisition was expected to be completed in the first quarter of 2021, with all of Codemaster’s senior staff planning to stay onboard post-acquisition. Take-Two is known as the publisher of Rockstar’s Grand Theft Auto and Red Dead Redemption games. Codemasters has worked on the Dirt and Grid franchises, most recently releasing Dirt 5, though the company has a history of publishing a variety of games such as the action-RPG series Overlord and the military simulator Operation Flashpoint.
According to Sky News, EA’s interest in Codemasters will likely be disclosed to the stock market on December 14. The value of EA’s offer is currently unclear, though it will likely be much higher than Take-Two’s bid. It is also not clear whether Take-Two, a smaller company whose market capitalization is about half the size of EA’s according to Sky News, plans to counterbid the offer. EA already owns another UK-based racing title developer in Criterion, the creator of Need for Speed and Burnout.
Whichever company acquires Codemasters will receive the rights to its catalogue of games. It is likely that both Take-Two and EA are eyeing Codemasters’ F1 racing series, which has seen a spike in popularity over recent years after its move into esports. EA and Take-Two both have developed a reputation as publishers of high-octane, car-centric games. Not only will purchasing Codemasters grant the parent company several new racing IPs, it will also provide staff who are experienced in developing games with driving mechanics.
Before Codemasters was approached by Take-Two Interactive, the company had purchased the rights to develop World Rally Championship racing games. Last year, Codemasters expanded its catalogue by purchasing Slightly Mad Studios, a UK-based developer known for its Project Cars IP.
Codemasters is finishing a successful year after releasing the positively-reviewed Dirt 5. The game is gaining a reputation as one of the better simulation games of 2020, with fans praising the title for its deep driving mechanics and detailed weather conditions. This year also saw Codemasters release Project Cars 3, Fast and Furious Crossroads, and F1 2020.
Dirt 5 is available now on PC, PS4, PS5, Stadia, Xbox One, and Xbox Series X.
Source: Sky News
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