The acquisition of Codemasters from Electronic Artswhich estimates the company at around $ 1.2 billion, and sees completion in the first quarter of 2021.
63 of the 76 shareholders voted remotely at the court meeting in favor of approving the agreement, which represents almost 99% of the shares held. The same percentage was reflected in the general meeting.
The results indicate that EA’s acquisition of Codemasters has now received the majority of the required approval. The next step is for the deal to be legally sanctioned during a court hearing on February 16, in addition to the passage of the competition law.
The owner of Rockstar Take-Two had submitted an offer to purchase Codemasters, which was originally accepted before EA submitted a higher bid and therefore deemed more favorable.
Codemasters is the publisher of racing games such as DiRT, F1, Grid and OnRush. The company also recently secured the rights to the FIA World Rally Championship (WRC) and in 2019 acquired Slightly Mad, the developer of the Project Cars and Fast & Furious Crossroads series.
Discussing the strategic rationale for the potential acquisition of Codemasters as part of its third quarter earnings results, EA said the deal will create “a global leader in racing entertainment” and “enable new racing experiences to be released every year.”
With the talent of Codemasters and the financial resources of EA, we look forward to and hope for top-tier productions.
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