An Electronic Arts (EA) video game logo has been spotted last year at the Electronic Entertainment Expo in Los Angeles.
Lucy Nicholson | Reuters
LONDON – Electronic Arts on Monday signed an agreement to buy UK video game developer Codemasters in a $ 1.2 billion deal.
The deal agreed to a previous transaction between rival publisher Take-Two Interactive and CodeMasters. The firm agreed last month to acquire Kodmasters for only £ 726 million ($ 971 million).
“The Codemasters board has considered various aspects of the EA offer and considers the EO offer to represent a better offer to the shareholders of Codemasters than the take-to offer,” the British firm said in a release.
The EA said that shareholders of Codemasters would receive £ 6.04 cash for each ordinary share of Codemasters. The EA said the deal was expected to be completed in the first quarter of 2021.
The acquisition of Codemasters is the biggest deal in EA’s history, and comes amid growing consolidation in the video game industry As the coronavirus epidemic intensified the demand for gaming.
in September, Microsoft announced that it would buy ZeniMax MediaThe company, which owns Bethesda Softwork for $ 7.5 billion, is the largest gaming acquisition in Microsoft history.
Kodmasters are mostly known for their Formula One and dirt racing game franchises. Those big titles in conjunction with EA will be seen as being owned by the popular racing game series Need for Speed.