EA Reaches Agreement To Purchase Codemasters

Codemasters is a videogame development company that’s been around for a long time and is based in the UK. The company is particularly well known for racing games. EA has announced that it has reached an agreement with the Board of Codemasters to acquire the company.

Codemasters shareholders will receive approximately $7.98 in cash for each ordinary share of stock. The deal values the company at $1.2 billion. EA reports that the deal is anticipated to be finished in Q1 of 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 EAs 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.

EA believes that the purchase of Codemasters will allow future growth and success for racing franchises both companies own. The deal also enables EA to leverage expertise and talent from Codemasters franchises like Formula One, DiRT, DiRT Rally, Grid, and Project Cars. We’re sure to see some of this talent work on the incredibly popular Need for Speed franchise.