F1 Game Developer Reaches $1.58 Billion Takeover Deal With EA
lectronic Arts (EA) has announced an AUD$1.58 billion takeover deal with the UK-based game developer responsible for the Formula One (F1) game, Codemasters.
Codemasters chairman, Gerhard Florin, said the UK developer, who also created the Dirt and Grid games, will benefit from the global knowledge and resources of EA.
“Electronic Arts and Codemasters have a shared ambition to lead the video game racing category,” Florin said.
“The Board of Codemasters firmly believes the company would benefit from EA’s 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,” he said.
EA CEO, Andrew Wilson, also said EA plans to drive higher user engagement by combining its portfolio of racing games and sports game in its multiplatform subscription services, such as EA Play.
“We believe there is a deeply compelling opportunity in bringing together Codemasters and Electronic Arts to create amazing and innovative new racing games for fans,” Wilson said.
“Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment,” he said.
For the official game of the F1, Codemasters has a partnership in place with the global series through to 2025, which will reportedly remain unchanged through this acquisition, which is expected to be finalised in the first quarter of 2021.
Initial reports suggested Codemasters had reached a similar deal with Take-Two Interactive, which owns Rockstar Games and 2K, but EA offered a higher amount confirming to secure the acquisition.