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In a recent turn of events, California-based video game company Electronic Arts has announced an agreement with the Codemasters Board for the recommended acquisition of UK-based game developer and publisher, Codemasters Group. .
It has been claimed that in the settlement agreement, the stakeholders of the latter company would be entitled to receive almost more than $ 7.98 or 604 pence in cash for each Codemasters share with an implied valuation of $ 1.2 billion. Furthermore, the acquisition is said to be concluded in the first quarter of 2021.
Under the acquisition pact, it was believed that the merger of EA and Codemasters would enable further growth of the company’s popular and innovative racing franchises, while allowing Codemasters to leverage the benefits that EA’s deep experience in business operations offers. live service, technology and games. analytics.
Further, the combination of EA and Codemasters would also drive the development and delivery of a market-leading portfolio of content and creative racing games to more platforms and even more players around the world.
According to official sources, Codemasters CEO Frank Sagnier and Codemasters CFO Rashid Varachia would remain with the company after the completion of the acquisition and would continue to lead the business within EA’s organization.
Speaking about the deal, Andrew Wilson, CEO of Electronic Arts, thinks there appears to be a phenomenal opportunity to unite EA and Codemasters in an effort to create innovative new racing games for fans.
He added that with EA’s experience, platform, technology and global reach, the combination would allow the company to expand its franchises and deliver enhanced, industry-defining experiences to its huge customer base.
Meanwhile, Codemasters-President Gerhard Florin cited the Codemasters Board as firm in its decision, confident that it will benefit from EA’s resources, knowledge, and broad global scale. He stated that this acquisition would allow the company to create, launch and offer larger and more advanced games to an extremely passionate audience around the world.
Source Credit: https://www.businesswire.com/news/home/20201213005036/en/Electronic-Arts-Reaches-Agreement-for-Recommended-Acquisition-of-Codemasters-Group-Holdings-PLC
