Another major gaming-related merger is in the works

mood · Nov 8, 2020

Take-Two Interactive is in talks to acquire Codemasters
November 8, 2020
https://www.techspot.com/news/87511-take-two-interactive-talks-acquire-codemasters.html

Take-Two Interactive has confirmed that it recently submitted a proposal to acquire Codemasters.

Take-Two, which owns Rockstar Games and 2K, is the third-largest publicly traded game company (in the Americas and Europe) behind Activision Blizzard and Electronic Arts. The firm said it is willing to pay approximately $6.40 per share for Codemasters, consisting of approximately $1.58 in cash and $4.82 per share in Take-Two stock. The total value of the deal would be $973.8 million, according to VentureBeat.
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It’s worth reiterating that the proposal isn’t a firm offer and that the deal could still fall through. As of now, it is contingent upon Take-Two completing due diligence and board approval.

Take-Two CEO Strauss Zelnick said in a recent earnings call that there has been a lot of acceleration lately with regards to mergers and acquisitions in the space, specifically citing Microsoft’s purchase of Bethesda.

“You’re going to continue to see increased M&A activity, just because of the heat around the category and capital that is being deployed by big companies,” Zelnick said. “We have almost $2.4 billion in cash. We have no debt. We are anxious to build our business aggressively.”
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Take-Two has until December 4, 2020, to either announce its intention to make an offer or pull out
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Take-Two: Take-Two Interactive Software, Inc. Confirms Offer to Possibly Acquire Codemasters Group Holdings PLC

UK-based publisher and game developer renowned for titles in the racing genre
Take-Two believes that the combination of Take-Two and Codemasters would bring together two world-class interactive entertainment portfolios, with a highly complementary fit between Take-Two's 2K publishing label and Codemasters in the racing genre.

In addition, Take-Two believes that it can bring benefits to Codemasters' performance by leveraging Take-Two's global distribution network and 2K’s core operating expertise in publishing, including live operations, analytics, product development, and brand and performance marketing.
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mood · Dec 5, 2020

Why THQ Nordic has joined the game studio acquisition binge
December 5, 2020
https://venturebeat.com/2020/12/05/why-thq-nordic-has-joined-the-game-studio-acquisition-binge/

On November 17, Embracer Group (a game publisher formed from the combination of THQ Nordic and Nordic Games Publishing) announced the acquisition of a dozen game studios. That was a historic day in games, and it was part of an acquisition binge trend that we’ve seen along with deals like Microsoft’s $7.5 billion acquisition of Bethesda in September.

The Karlstad, Sweden-based company said it has 135 game projects in the works right now, and it has 4,445 employees. The rapid expansion illustrates the big opportunity in games, particularly as gamers increase their playing during the pandemic.
I spoke with THQ Nordic CEO Klemens Kreuzer, who described the thinking behind the frenetic pace of expansion.
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mood · Dec 14, 2020

mood said: ↑

Take-Two Interactive is in talks to acquire Codemasters November 8, 2020

Take-Two: Take-Two Interactive Software, Inc. Confirms Offer to Possibly Acquire Codemasters Group Holdings PLC
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EA outbids Take-Two to buy Codemasters Group for $1.2 billion
December 12, 2020
https://venturebeat.com/2020/12/14/ea-outbids-take-two-to-buy-codemasters-group-for-1-2-billion/

Electronic Arts has outbid rival Take-Two Interactive to buy Dirt 5 publisher Codemasters Group in a deal that values the acquired company at $1.2 billion.
The all-cash offer is another sign that consolidation is heating up in the games industry, which saw more than $20.5 billion in deals in the first nine months of 2020. The deal is subject to shareholder approval.

Back in November, Take-Two announced that it had bid $973 million to buy Codemasters. But the United Kingdom-based maker of racing games wasn’t done with the bidding process.
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EA said that the combination of the racing franchises of both sides (EA makes Need for Speed) will bring more expertise to future titles.

“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,” said EA CEO Andrew Wilson in a statement.
EA will also lend its global publishing, marketing, and game development support to Codemasters. And Codemasters will help EA grow the number of games it can offer in its subscriptions.
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Take-Two: Electronic Arts Reaches Agreement for Recommended Acquisition of Codemasters Group Holdings PLC

mood · Feb 4, 2021

Codemasters has approved EA's $1.2 billion acquisition bid
The publisher hopes to put out new racing games annually
February 4, 2021
https://www.pcgamer.com/codemasters-has-approved-eas-dollar12-billion-acquisition-bid/

EA's acquisition of Codemasters is all but sealed, after the studio's board of directors voted in favour of approving the buyout this week.

In a court meeting, 63 of Codemasters' 76 shareholders (representing 99% of held shares) approved EA's takeover bid. With the board's approval sealed, the acquisition deal now awaits a formal court hearing on February 16th. Should all go to plan, EA's acquisition should be cemented by the end of Spring.
Codemasters' arrival will bring EA some more serious-minded racing franchises to sit alongside Need For Speed and (the criminally slept-on) Burnout.
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mood · Jun 23, 2021

Electronic Arts buys mobile game studio Playdemic for $1.4 billion
June 23, 2021
https://techcrunch.com/2021/06/23/electronic-arts-buys-mobile-game-studio-playdemic-for-1-4-billion/

Video game giant Electronic Arts is continuing to make M&A moves as it looks to bulk up its presence in the mobile gaming world.

Fresh off the $2.4 billion acquisition of Glu Mobile this past April, their biggest purchase to date, Electronic Arts announced Wednesday that they are buying Warner Bros. Games’ mobile gaming studio Playdemic for $1.4 billion in an all-cash deal. The Manchester studio is best known for its release “Golf Clash” which the studio boasts has more than 80 million downloads globally.

The rather ominously-named startup is being jettisoned to its new home ahead of the $43 billion WarnerMedia-Discovery deal where the rest of the Warner Bros. Games division will live post-merger.
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Electronic Arts is the second-largest Western video games company with a market cap around $40 billion.
Electronic Arts has been on a studio buying spree as of late — in 2021 they’ve announced three major acquisitions worth some $5 billion combined.
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mood · Jul 19, 2021

Tencent is buying British game studio Sumo for $1.27 billion
Sumo recently developed Sackboy for Sony and Crackdown for Microsoft
July 19, 2021
https://www.theverge.com/2021/7/19/22583186/tencent-sumo-digital-buyout-announced-price-acquisition

Tencent has announced plans to buy British video game company Sumo Group for $1.27 billion. The Chinese tech giant already has an 8.75-percent stake in the developer, as Gamesindustry.biz reports, and the offer represents a 43-percent premium on Sumo’s current valuation.

Based in Sheffield, England, Sumo’s well-regarded core studio Sumo Digital has carried out contract work for many of the biggest names in gaming. It developed Sony’s PlayStation 5 launch title Sackboy: A Big Adventure and was the primary studio behind Microsoft’s Crackdown 3 for Xbox consoles and PC. In 2017 Sumo released Snake Pass for multiple platforms, its first foray into original IP.
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This would be the second billion-dollar deal involving a British game developer this year — EA completed its acquisition of racing game specialists Codemasters for a similar price in February.
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mood · Aug 11, 2021

Game engine, meet game streaming: Unity acquires Parsec for $320M
Follows Parsec's explosion during the pandemic as a remote game development tool.
August 11, 2021
https://arstechnica.com/gaming/2021...ame-streaming-unity-acquires-parsec-for-320m/

The parent company of Unity, one of the most popular game development engines in the world, has made arguably its biggest acquisition of another gaming company yet. The deal, announced on Tuesday, sees Unity taking control of Parsec, a peer-to-peer game-streaming protocol. The acquisition is valued at $320 million.

Part of Unity Technologies' decision is the result of the COVID-19 pandemic, which forced game studios from around the world to adapt to an increasingly remote workplace.

Parsec fits into that picture by allowing game-makers to efficiently and securely stream their PC and console environments as needed. Sources familiar with the matter have repeatedly pointed to Parsec as an increasingly relied-upon service for game-makers, QA testing departments, and other parts of the game industry, because it allows exact PC and console testing situations to be emulated with minimal button-tap latency issues.
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mood · Oct 18, 2021

Sony Pictures Entertainment to Sell GSN Games Division to Scopely for $1 Billion
October 18, 2021
https://variety.com/2021/digital/news/sony-sale-gsn-games-scopely-1235091732/

Sony Pictures Entertainment announced a deal to sell GSN Games, a division of Game Show Network, to mobile-games company Scopely for about $1 billion in cash and stock.

GSN Games’s portfolio of free-to-play mobile and online games includes “Solitaire TriPeaks,” “Bingo Bash” and “Wheel of Fortune Slots.” Scopely will pay half the $1 billion purchase price in cash and the remainder in preferred equity, which will give SPE with a minority interest in Scopely. The deal is subject to regulatory approvals and other usual closing conditions.
With the Sony Pictures-GSN Games deal, Scopely’s valuation has climbed to $5.4 billion, according to a source close to the games company.
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Scopely: Scopely to acquire GSN Games from Sony Pictures Entertainment

Scopely, one of the largest privately held mobile-first video game companies, and Sony Pictures Entertainment (“SPE”) today announced an agreement for Scopely to acquire GSN Games, a division of Game Show Network, LLC (“GSN”), a wholly owned subsidiary of of SPE. GSN Games operates a portfolio of free-to-play mobile and online games that includes “Solitaire TriPeaks” and “Bingo Bash,” among other titles.

The acquisition will add a complementary games portfolio to the Scopely business as well as bring a talented team of gamemakers to the Scopely ecosystem. Today, GSN Games has approximately 400 employees globally and its games continue to entertain millions of players around the world.
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mood · Jan 10, 2022

Take-Two Interactive to buy game developer Zynga for $12.7 billion
Take-Two's acquisition of Zynga might be the biggest in the video game industry
January 10, 2022

In brief: Video game publisher Take-Two Interactive is trying to acquire Zynga for $12.7 billion, making it one of the biggest buyouts in the video game industry. The deal hasn't closed yet, as Zynga still has 45 days to find alternative proposals from other companies.

After the 45 days have passed, and if no other company presents a better deal, Zynga should end up under Take-Two's wing. However, that will only happen during the first quarter of the publisher's 2023 fiscal year, after stockholders approve the deal. The Board of Directors of both companies have already unanimously agreed on the terms of the acquisition.
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For Take-Two, Zynga will work as the gateway to mobile and social media gaming, allowing the publisher to bring some of its biggest franchises to more platforms. Take-Two Interactive owns several successful properties including Borderlands, Red Dead, Grand Theft Auto, NBA 2K, and Sid Meier's Civilization, just to name a few.

Zynga has also proven to be a competent game publisher and developer, launching the world-famous Ville series including FarmVille, CityVille and YoVille. Other titles and game series belonging to the social game company are CSR Racing, Words With Friends, Empires & Puzzles, and Tangle Master 3D.
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Another major gaming-related merger is in the works

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