Big Law

Electronic Arts Outbids Take-Two for Codemasters in $1.2B Deal

Everybody thought the deal was done — Take-Two was supposed to acquire Codemasters for nearly $1 billion. Take-Two even reached an agreement with the board of Codemasters. But Electronic Arts crashed the party at the last minute and offered even more money. EA now plans to buy Codemasters for $1.2 billion.

Sky News originally reported that EA was planning a knockout bid. Since then, EA has officially announced that it has reached an agreement with the board of Codemasters.

If you’re not familiar with Codemasters, the British game-studio has been around since 1986, making it one of the oldest game studios operating today. It has developed and published dozens of games. In recent years, the company has been focused on racing games across multiple franchises, such as Dirt, Dirt Rally, Formula One, Grid, and (of course) Micro Machines.

Read the source article at techcrunch.com

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