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.
Click to expand...

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.”
Click to expand...

Take-Two has until December 4, 2020, to either announce its intention to make an offer or pull out
Click to expand...

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.
Click to expand...

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.
Click to expand...

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
Click to expand...

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.
Click to expand...

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.
Click to expand...

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.
Click to expand...

Log in or Sign up

Another major gaming-related merger is in the works

mood Updates Team

mood Updates Team

mood Updates Team

mood Updates Team

Log in or Sign up

Another major gaming-related merger is in the works

mood Updates Team

mood Updates Team

mood Updates Team

mood Updates Team

Useful Searches