What you need to know
- EA announced back in December 2020 that it intended to acquire Codemasters for $1.2 billion.
- EA CEO Andrew Wilson says the pairing will create a "global powerhouse in racing entertainment."
- The deal was financed with cash on hand, at roughly $8.37 per share of Codemasters.
Back in December 2020 we learned that Electronic Arts (EA) was interrupting Take-Two Interactive's bid on racing game developer and publisher Codemasters. Today, EA confirmed that the acquisition has been finalized and Codemasters is now officially an EA subsidiary. The deal was financed with cash on hand, with EA paying roughly $8.37 per share of Codemasters.
With Codemasters' franchises like Dirt, Grid and Project Cars added to EA's existing roster that includes Need for Speed, EA openly referred to the deal as making EA "the home of racing games." The acquisition is intended to expand Codemasters' reach with "significant growth opportunities" paired with EA's marketing and research teams.
"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. "Racing fandom continues to grow worldwide, and the franchises in our combined portfolio will enable us to create innovative new experiences and bring more players into the excitement of cars and motorsport. Our teams will be a global powerhouse in racing entertainment, with amazing games for players on every platform, and we can't wait to get started."
EA's Q3 2021 financial results show the company now sees a 62% digital share of players, while growth for EA Play has reached nearly 13 million subscribers thanks to Xbox Game Pass Ultimate. Some of the company's upcoming titles include the Mass Effect: Legendary Edition trilogy remaster and a new Battlefield game, the latter of which is coming in Holiday 2021.
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