Take-Two To Acquire Codemasters For $994 Million
Take-Two Interactive, the holding company which owns publishers Rockstar and 2K, is now set to buy UK developer Codemasters, the studio behind racing franchises such as Project Cars, Dirt and F1. Word of the buyout spread last week when Take-Two announced that it was discussing with Codemasters about a potential buyout before confirming that Take-Two would acquire Codemasters for $994 million. The acquisition is expected to be completed sometime in the first quarter of 2021.
Strauss Zelnick, chairman and CEO of Take-Two, told Buisnesswire, “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.”
Codemasters most recent game, Dirt 5, was released on PS4, PS5, Xbox One, Xbox Series X and PC. Last year, Codemasters purchased Project Cars developer, Slightly Mad Studios.