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EA Announces $1.2 Billion Acquisition of 'DiRT' Developer Codemasters

Source: Chesnot / Getty

Electronic Arts backed up the Brink’s Truck in a move that it hopes will pay off in the end with the development of quality racing game titles.

EA announced today (Dec.14) that it has reached a deal to purchase the UK-based game studio Codemasters for an astounding $1.2 billion. The move sent shocks throughout the gaming world because it was believed that Rockstar Games parent company Take-Two Interactive was initially working on acquiring the DiRT developer for $994 million; that deal didn’t happen.

In a statement, EA confirmed the acquisition stating:

“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. Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment. We have admired Codemasters’ creative talent and high-quality games for many years. With the full leverage of EA’s technology, platform expertise, and global reach, this combination will allow us to grow our existing franchises and deliver more industry-defining racing experiences to a global fan base. We are pleased that both our Boards of Directors are recommending this transaction, and we look forward to welcoming such an exciting and talented team to the Electronic Arts family.”

With this purchase, EA hopes that it can help Codemasters continue to grow its success while improving its car racing franchises like Need For Speed.

Codemasters board further confirmed EA’s announcement by recommending that Take-Two’s offer be withdrawn, adding:

“In evaluating the EA Offer, the Codemasters Board has considered various aspects of the EA Offer and considers the EA Offer to represent a superior offer for Codemasters’ shareholders as compared with the Take-Two Offer.”

We are looking forward to what fruits this significant move bears in the gaming world.

Photo: Chesnot / Getty

HHW Gaming: Electronic Arts Reaches Agreement To Drop A Billy On “DiRT” Developer Codemasters  was originally published on hiphopwired.com

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