Electronic Arts “href =” https://www.videogameschronicle.com/companies/electronic-arts/ “> Electronic Arts has officially completed the acquisition of Codemasters” href = “https://www.videogameschronicle.com/companies/codemasters / “> Codemasters, after a court order was delivered to the Registrar of Companies of England and Wales on Thursday.
The total issued share capital of Codemasters is now owned by Codex Games Limited, a subsidiary of EA.
Trading in Codemasters shares has been suspended this morning on AIM, a sub-market of the London Stock Exchange, and the existing shareholder will receive a settlement within 14 days (604 pence per scheme share). Following the completion of the sale, each of the non-executive directors of Codemasters resigned from the Codemasters Board with immediate effect.
EA’s acquisition of Codemasters estimates the company at about $ 1.2 billion.
In a statement, the publisher says the combination of Electronic Arts and Codemasters is an exciting new era in racing.
“This is the beginning of an exciting new era of racing games and content as we bring together the talented teams at Electronic Arts and Codemasters,” said Andrew Wilson, CEO, “href =” https://www.videogameschronicle.com / people / andrew -wilson / “> Andrew Wilson in a statement.
‘Racing fandom continues to grow worldwide, and the franchises in our joint portfolio will enable us to create innovative new experiences and bring more players into the excitement of cars and motorsport. Our teams will be a global powerhouse in racing entertainment, with great games for players on every platform, and we can not wait to get started. ”
Frank Sagnier, CEO of Codemasters, added: ‘Today is a landmark in the history of Codemasters, and an exciting day for our employees and players.
‘The partnership with EA will enable our teams to take our highly regarded franchises to new heights and reach a large global audience through their player network. Together we can redefine the landscape of racing games to create even more compelling experiences for racing enthusiasts around the world. ”
Codemasters is the publisher of racing games, including Dirt, F1, Grid “href =” https://www.videogameschronicle.com/games/grid-2019/ “> Grid and OnRush. The company also recently acquired the rights to the FIA World secured Rally Championship (WRC) and in 2019 it acquired Slightly Mad, the developer of the Project Cars series and Fast & Furious Crossroads.
Rockstar Games “href =” https://www.videogameschronicle.com/companies/take-two-interactive/rockstar-games/ “> Rockstar Owner Take-Two Interactive” href = “https://www.videogameschronicle.com / companies / take-two-interactive / “> Take-Two also made an offer to purchase Codemasters, which was originally accepted before EA entered a higher bid that was deemed more favorable.
On the strategic rationale for the potential Codemasters acquisition as part of its third-quarter earnings results earlier this month, EA said the deal would create a “world leader in racing entertainment” and “enable EA to to give new races every year “.
EA is home to the Need for Speed Heat “href =” https://www.videogameschronicle.com/games/need-for-speed-2019/ “> Need for Speed and Burnout franchises, but the Codemasters buyout has a number of high profile race brands in its stable.
The series’ Need for Speed series has been sticking to a biennial release schedule for the past ten years. Last year, he returned the franchise to Criterion Games in the UK and announced a restructuring of Sweden’s Ghost Games “href =” https://www.videogameschronicle.com/companies/electronic-arts/ghost-games/ “> Ghost Games, which has developed the last four entries in the racing series.
It is noteworthy that Codemasters has released its own annual racing title over the past year, not even for the annual F1 delivery.