Not long ago, the American gaming company Take-Two Interactive reached a deal to acquire the publicly-traded UK-based gaming company Codemasters for about $1 billion, precisely $994 million. 

Take-Two had already announced an agreement with Codemasters’ board for an acquisition but now appears to have been outplayed by its rival Electronic Arts (EA), which has offered a higher $1.2 billion bid for Codemasters and announced a formal agreement with the UK-based gaming company’s board.

Outbidding Take-Two’s offer by $200 million, EA expects its acquisition of Codemasters to be completed in the first quarter of next year. 

Codemasters is a publicly-traded UK gaming company famous for its sports and racing games, including the Formula One gaming franchise. It’s set to combine with EA, which is famous for many games including the Need for Speed franchise as well as sports games including the FIFA, NHL, and Madden NFL series.

With Codemasters, EA will bolster its stronghold in the sports gaming market, particularly with the addition of the company’s Formula One gaming series. The $1.2 billion price it’s coughing up for Codemasters marks one of the biggest-ever deals from the UK’s gaming sector.

Upon completion of the acquisition, Codemasters will become a unit housed under EA and will continue to be led by its current leadership team.

Photo: EA CEO Andrew Wilson by Innovate BC is licensed under CC BY-ND 2.0

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