Take-Two Gives up on Codemasters

Take-Two Gives up on Codemasters

The US-based game company Take-Two entered the race with Electronic Arts to buy Codemasters; which became popular with games such as Formula 1. The company has announced that it has given up purchasing Codemasters after Electronic Arts’ $ 1.2 billion bid.

As you know, Take-Two and Electronic Arts entered the race for Codemasters, famous for their Formula 1 and Dirt series games; and finally, EA appeared as the closest company to buy Codemasters with a $ 1.2 billion bid. Electronic Arts and Codemasters reached a preliminary agreement but they raised Take-Two’s previous bid of approximately $ 1 billion.

Take-Two Abandons Taking Codemasters

Take-Two quit the race, saying that they would withdraw their offer after Electronic Arts offered $ 1.2 billion. Stating that they mostly interested in buying other companies, even if they are not Codemasters; the company made the following statement “The company will continue to pursue organic and inorganic opportunities to expand its long-term growth and deliver new results to its shareholders.”

With Take-Two out of the race, Codemasters seems to be left to Electronic Arts. The company announced that the acquisition process will conclude in the first quarter of 2021, as previously stated. Don’t forget to check our other technology and video game news here.