Take-Two Interactive revealed it had entered into acquisition talks with DiRT and F1 publisher Codemasters late last week. Today, the two companies reached an agreement. The acquisition is moving forward, and should be finalized by the end of 2021’s first quarter. Take-Two’s announcement of this new development notes the deal is worth $994 million USD.
In a press release, Take-Two outlined the rationale behind the Codemasters purchase. The publisher notably believes the acquisition “creates a global leader in interactive entertainment publishing through the combination of Take-Two and Codemasters’ complementary and critically-acclaimed sports and racing franchises and world-class creative teams.” Codemasters also brings diverse content to the Take-Two catalogue with its “regular title release cadence and high-quality racing titles.” In short, it’s a boon for both companies, especially in terms of financials.
Take-Two CEO Strauss Zelnick added in a statement of his own that Codemasters’ “offerings will be highly complementary to our sports portfolio and enhance further our organization’s long-term growth.” All in all, such a match most certainly seems strategic.
Codemasters is home to myriad racing titles, including DiRT, F1, and Grid. The company’s 2019 acquisition of Project CARS developer Slightly Mad Studios further elevated its portfolio, as did the recent move to secure the rights for World Rally Championship (WRC). With the latter deal, Codemasters is set to roll out five annual WRC titles between the years of 2023 and 2027. It should be interesting to see how such projects come together once Codemasters officially settles in as a Take-Two Interactive subsidiary.
[Source: Take-Two Interactive via Business Wire]