After announcing last week that Take-Two Interactive was in talks to acquire Codemasters, the companies today announced that they have signed an agreement on the offer to complete the acquisition.
Take two racing games with Codemasters
For Codemasters shareholders, the purchase will result in a payout of 120 cents per share, in addition to 0.02834 new Take-Two share per Codemasters share. This values each Codemasters share at 485 pence and the capital of the entire company at £ 759million ($ 994million), as of November 5, the day after speculation about the potential takeover bid. The individual share price rose 33.7% from the average Codemasters share value in the six months leading up to November 5th.
Take-Two Interactive is a huge conglomerate, owning companies like Rockstar Games, 2K Games, Private Division, etc. Franchises like Grand Theft Auto, Bioshock, Red Dead Redemption, Borderlands and many more are part of the company’s portfolio. Meanwhile, Codemasters are best known for their racing games, the most recent being Dirt 5, although they are also responsible for Project Cars 3 and the F1 series. The acquisition will undoubtedly increase the breadth of Take-Two’s experiences, as it does not currently release any racing-focused titles.
The acquisition of Codemasters is expected to be finalized in the first quarter of 2021. A giant that continues to grow, now with Codemasters