LSE – Why EA wants to buy this racing game maker for $ 1.2 billion
On December 14, 2020, Electronic Arts (NASDAQ: EA) announced plans to buy UK game studio Codemasters (LSE: CDM) for $ 1.25 billion. EA’s offer is up 14% from the Take-Two Interactive (NASDAQ: TTWO) price offered in November. The deal isn’t finalized yet, but as of now, it looks like EA is the frontrunner to acquire the studio. Here’s what investors need to know about the racing-focused games company.
Image source: Getty Images.
What is Codemasters?
Codemasters is a 30-year-old British video game developer specializing in the racing genre. DiRT, GRID, Project Cars and Formula One are some of its best franchises. None of these are domestic brands and they don’t have the name recognition of something like a FIFA or Call of Duty, but the titles are popular with racing fans of all types. For example, DiRT Rally 2.0, the company’s rally car game, has just reached 9 million users.
Since Codemasters is listed on the London Stock Exchange, we can look…
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LSE – Why EA wants to buy this racing game maker for $ 1.2 billion
