Take-Two Interactive Is Officially Acquiring Dirt Developer Codemasters

Posted on November 10, 2020 by Nick Moreno

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For the Rockstar Games and 2K parent company Take-Two Interactive, the amount of content that is funneled through from the subsidiary firms of the company is outstanding as franchises like Grand Theft Auto and NBA 2K is enough for the group to sit comfortably. However, alike many businesses, there is plenty of room for the firm to experiment and find new talent.

For instance, 2K after more than a decade is returning to providing NFL games as part of a new collaboration with the National Football League. Another, again with 2K, is the revival of Bioshock as 2K formed dedicated studio Cloud Chamber to make the next installment. While the game is told to be years away, that it is happening proves Take-Two Interactive likes to take chances.

The latest of the firm doing so is announcing to be acquiring United Kingdom studio Codemasters. The team is most recognized for pumping out several entries for the Dirt series as well as Grid and the F1 series as well.

We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters. Codemasters has a renowned history of creating some of our industry’s most beloved and commercially successful racing franchises, and we believe that their offerings will be highly complementary to our sports portfolio and enhance further our organization’s long-term growth.

Moreover, we look forward to welcoming Codemasters’ senior management and development teams into our Take-Two family, and sharing in our vision to deliver the highest quality entertainment experiences and aim to be the most innovative, creative and efficient company in our industry.

Strauss Zelnick, Take-Two Interactive Chairman and CEO

In total, Take-Two Interactive is projected to be purchasing Codemasters for about $994 million upon adding up the price per share for the firm. Chairman of Codemasters Gerard Florin had this to share on the acquisition: “With a leading position in sports gaming, the Board of Codemasters firmly believes the Company will benefit from Take-Two’s broad capabilities which will help propel the long term success of Codemasters.

“In recommending this offer to shareholders, the Board of Codemasters believes it is in the best interests of all stakeholders in the Company. Take-Two’s offer reflects the great work the management team has done since listing on AIM in 2018 at 200p and delivers an excellent return for shareholders in just two and a half years.” The purchase is projected to be finished by Q121 next year.

What are your thoughts on Take-Two Interactive being the new owners of Codemasters?

Source: Take-Two Interactive

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