Share

Codemasters Has Agreed On Terms With Take-Two For Sale That Will Finalize Next Year

The company will run under the 2K Games label.


codemasters

A couple of days ago it was announced, somewhat surprisingly, that Codemasters was in talks to sell to Take-Two Interactive. The UK-based firm has been one of the most popular, and consistent, producers of racing titles such as DiRT, Project CARS and the F1 series of games. Well, it seems the time for talk is over and a deal has been struck pending finalization.

As reported by VGC, Codemasters sent out a note to investors early today to say they anticipate that the acquisition will complete at some point in the first quarter of 2021. This is barring shareholders approval, but as it stands, there’s no reason to suspect that it won’t get the green stamp. The deal is said to be worth about £750 million, which equates to roughly $980 million USD, so just under $1 billion. Codemasters will continue to run under the current leadership and would be published under Take-Two’s 2K Games label. The CEO of Take-Two Interactive, Strauss Zelnick, published a statement about the pending purchase.

“We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters,” he said. “Codemasters has a renowned history of creating some of our industry’s most beloved and commercially successful racing franchises, and we believe that their offerings will be highly complementary to our sports portfolio and enhance further our organization’s long-term growth.

“Moreover, we look forward to welcoming Codemasters’ senior management and development teams into our Take-Two family, and sharing in our vision to deliver the highest quality entertainment experiences and aim to be the most innovative, creative and efficient company in our industry.”

Take-Two Interactive is primarily known for their 2K Sports titles as well as the owner of Rockstar games. As long as this sale does go through as expected, it would give them several well renowned racing titles to add to their catalog.