Electronic Arts have announced the acquisition of racing videogames maker Codemasters.
Take-Two was set to buy Codemasters, but Electronic Arts jumped into the negotiation table and came out on top.
The purchase is valued at 1,2 billion US dollars or 945 million British Pounds.
“The combination of Electronic Arts and Codemasters marks an exciting new era in racing game entertainment. Bringing together two of the most passionate, creative and talented game developer and publishing organizations in the industry will enable further growth and success for a stable of the most powerful and popular racing brands in the world, including Formula 1,” reads the announcement.
“This is the beginning of an exciting new era for racing games and content as we bring together the talented teams at Electronic Arts and Codemasters,” said Andrew Wilson, CEO of Electronic Arts.
Frank Sagnier, CEO of Codemasters, said: “Today is a landmark in Codemasters’ history and an exciting day for our employees and players. The partnership with EA will enable our teams to take our highly-acclaimed franchises to new heights and reach a huge global audience through their player network.”
The acquisition of Codemasters was financed with cash on hand.