Last year, EA had successfully secured a $1.2 billion bid to acquire Codemasters, while the company has now completed the takeover of the Formula 1 game series developer. EA This came after Take-Two Interactive was outbid by EA when trying to acquire Codemasters.
Codemasters brings in some big racing titles under EA, which include the FIA licensed Formula 1 series, DiRT series, Project Cars, Real Racing, Grid, and more. EA also confirmed the complete acquisition with a tweet.
We're excited to welcome @Codemasters to the EA family! 🚗💨 pic.twitter.com/y3yYB94vmF
— Electronic Arts (@EA) February 18, 2021
Andrew Wilson, CEO of Electronic Arts had this to say,
This is the beginning of an exciting new era for racing games and content as we bring together the talented teams at Electronic Arts and Codemasters.
Racing fandom continues to grow worldwide, and the franchises in our combined portfolio will enable us to create innovative new experiences and bring more players into the excitement of cars and motorsport. Our teams will be a global powerhouse in racing entertainment, with amazing games for players on every platform, and we can’t wait to get started.
EA expects the acquisition to grow net bookings and underlying profitability for the company. It is focusing on growing the company with top live services by reaching more players on more platforms worldwide. On the other hand, the acquisition will also give a massive boost to Codemasters with access to EA’s network of more than 430 million players and subscription services.
CEO of Codemasters, Frank Sagnier also had his say in the press release,
The partnership with EA will enable our teams to take our highly-acclaimed franchises to new heights and reach a huge global audience through their player network. Together we can redefine the landscape of racing games to create even more compelling experiences for racing fans around the world.
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