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Take-Two Interactive has announced its intentions to acquire UK-based developer Codemasters.
The announcement was made through a press release on Friday, November 6 and confirms that Take-Two has made a proposal for a “possible offer” to “acquire the entire issued share capital” of Codemasters, which has been valued at 739 , 2 million pounds (US $ 973.01 million), according to a Reuters report.
According to the press release, the offer is pending “completion of confirmatory due diligence and recommendation from the Codemasters Board,” noting that “Take-Two reserves the right to waive any of these requirements.”
While the deal has yet to be confirmed, the Codemasters Board is apparently willing to “unanimously recommend that Codemasters shareholders accept the potential offer.” Take-Two, however, reiterated that “[while] discussions are ongoing, there is no certainty that a firm offer will be made by Codemasters ”.
The press release also states that, in accordance with the UK City Code on Acquisitions and Mergers, Take-Two must commit to make an offer or announce its intentions not to make an offer before December 4.
“Take-Two believes that the combination of Take-Two and Codemasters would unite two world-class interactive entertainment portfolios, with a highly complementary fit between Take-Two’s 2K publishing label and Codemasters in the racing genre,” said Take-Two. Two of the potential acquisition.
Take-Two Interactive currently owns major studios such as Rockstar Games (Grand theft auto v, Red Dead Redemption 2) and 2K Games (NBA 2K21, Mafia: Definitive Edition). Codemasters, on the other hand, is primarily focused on racing games, such as Dirt 5, F1, Cars project and more.
Take-Two’s intention to acquire Codemasters follows news of the purchase and rebranding of its subsidiary studio Rockstar Games Repression 2 developer Ruffian Games in October.
In other major game acquisition news, it was reported in September that Microsoft is in the process of acquiring ZeniMax Media for $ 7.5 billion, making it the largest games deal in history. Buying ZeniMax will give Microsoft control of studios like Bethesda Softworks, id Software, and Arkane Studios.
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