Electronic Arts has moved forward with the purchase of UK-based Codemasters Software Company Limited, dealing as Codemasters after reaching an agreement crazy $1.2 billion deal with the UK gaming company giving shareholders a $7.89 boost. According to sources, this industry changing buyout would place EA at the top of the video gaming racing category coming into 2021.
In an official press release from EA the brands CEO Andrew Wilson states:
"We believe there is a deeply compelling opportunity in bringing together Codemasters and Electronic Arts to create amazing and innovative new racing games for fans. Our industry is growing, the racing category is growing, and together we will be positioned to lead in a new era of racing entertainment."
"We have admired Codemasters' creative talent and high-quality games for many years. With the full leverage of EA's technology, platform expertise, and global reach, this combination will allow us to grow our existing franchises and deliver more industry-defining racing experiences to a global fan base. We are pleased that both our Boards of Directors are recommending this transaction, and we look forward to welcoming such an exciting and talented team to the Electronic Arts family."
Codemasters Video Game Company
Codemasters staked their claim in the video gaming industry producing and publishing racing games Formula One, Dirt and Dirt Rally, and games such as Colin McRae Rally, Micro Machines, and TOCA running on the side of tactical gaming Operation Flashpoint.
In 2008 the gaming company gained the rights to produce and publish licensed Formula One video games. Codemasters made their move to take over the Sega Racing Studio to corner the video game racing market.
With Electronic Arts already making their presence known in the racing sector from the successful release of hit racing franchise Need for Speed, EA feels that by purchasing Codemasters, they can boost various Codemaster titles' gaming experience with new technologies. EA plans to give the classic titles an upgrade to contemporary age art and motion movements, analytics, marketing, publishing, and various game improvements.
EA subscription members will be able to play all games from Codemasters under the subscription purchases once Codemasters' acquisition concludes in the first three months of 2021.
About Electronic Arts
The Redwood City, California-based Electronic Arts company leads the world in digital interactive entertainment for gaming, gaming content, and online services for computers, internet-connected consoles, and portable devices. EA is critically acclaimed for its sports division EA SPORTS that produces titles like FIFA, Madden NFL, NBA Live, NHL, and UFC. Conquering even more of the gaming industry are EA titles The Sims, Medal of Honor, Command & Conquer, Dead Space, Mass Effect, Dragon Age, Army of Two, Titanfall, and Star Wars, to name a few.
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