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Old 12-14-2020, 07:10 PM   #14205
Emperor Smeat
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According to a report from Sky News, Take-Two's recent purchase of racing genre developer Codemasters ended up being dropped because of EA.

Codemasters originally agreed to a $975 million takeover deal by Take-Two but before it could be finalized, EA swooped in and countered with a $1.2 billion offer for the studio.

Quote:
Originally Posted by Destructoid
Last month, we reported on how publisher Take-Two Interactive was in the final stages of purchasing developer Codemasters, with the latter having agreed to a non-binding offer from the former which had valued the UK studio at around $6.40-per-share, or roughly $975 million USD.

But, in a sudden and surprising move, Electronic Arts made a last-minute bid this weekend, successfully swooping in and snatching up the studio before the ink has dried on the Take-Two agreement. It is believed that EA put in a late offer at around $7.98-per-share, ultimately valuing Codemasters at around $1.2 billion USD. Codemasters is expected to close the deal in early 2021 ...

Given that Electronic Arts owns franchises such as Need for Speed and Burnout, it seems obvious why the publisher would be interested in bringing Codemasters on board, with the developer having long proven their pedigree with road-rippers such as DIRT, OnRush, and the F1 series.
https://news.sky.com/story/games-gia...eover-12160582
https://www.destructoid.com/stories/...e-613427.phtml


Considering EA's track record with buying new studios in recent times, Codemasters long term future not looking that good.
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