Recently, Codemasters was in the process of being acquired by either Take-Two Interactive and Electronic Arts, with the latter ending up getting the developer. Take-Two planned to acquire Codemasters but the company was outbid by EA’s offer of $1.2 billion.
In its recent earnings call, Take-Two Interactive CEO Strauss Zelnick commented on the situation, saying that losing Codemasters to EA was “disappointing” yet commending EA for the success. However, he also said this was an example of Take-Two’s “disciplined approach in making more sound business decisions. Zelnick went on to state that while Take-Two may not have been able to acquire Codemasters, it’s still on the lookout for more developer acquisitions for the company.
Zelnick shared that Take-Two is still searching for new game developers and IPs, and to reach “an arrangement that would be accretive to shareholder value.” He said that Take-Two will be a little more aggressive in pursuing further acquisition but tactics and strategy will be major factors when doing so. While Take-Two wasn’t able to acquire Codemasters, Zelnick stated there was still good news for the company.
In response to a previous question in the call, he mentioned the recent merger between Gearbox and Embracer Group. He said Take-Two is “grateful” to still be in business with Gearbox, and the company looks forward to continue working with the developer on Borderlands and other potential titles. He even mentions how Take-Two had acquired the mobile game developer Playdots several months ago and is looking forward to see what comes from that deal.
Zelnick pointed out that while the Codemasters acquisition fell through, the company hasn’t made an acquisition that didn’t work out well for it yet. Zelnick and other Take-Two members proceeded to answer more questions about the company’s financial earnings and potential projects. One question concerned the possible release of Grand Theft Auto remasters of the older games. Zelnick replied very ambiguously, stating that any potential announcements about GTA remasters will come from Rockstar Games itself.
Granted, Take-Two and Rockstar may not be in any rush to make any GTA remasters since both GTA 5 and GTA Online excelled in 2020 and helped break a financial milestone for the parent company. The former having sold over 140 million copies while the latter saw an increase of new and returning players in 2020, especially with the recent Cayo Perico Heist. Even without the Codemasters acquisition, the company is still confident in its other affairs.
Source: The Motley Fool
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