Take-Two Interactive Set to Acquire Codemasters
Codemasters is officially being acquired by Take-Two interactive for nearly $1 billion
After news of a deal being discussed, Take-Two Interactive, the massive company under which Rockstar and 2K operate, is adding another massive developer and publisher to its roster. To the tune of $994 million, Take-Two is acquiring Codemasters, the UK-based studio behind the Dirt and F1 franchises.
In a press release on Businesswire, chairman and CEO of Take-Two Strauss Zelnick said “We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters. Codemasters has a renowned history of creating some of our industry’s most beloved and commercially successful racing franchises, and we believe that their offerings will be highly complementary to our sports portfolio and enhance further our organization’s long-term growth.” The acquisition of Codemasters is set to be completed in the first fiscal quarter of 2021.
The addition of Codemasters to its portfolio fills out Take-Two’s presence in the world of sports games. The company already owns 2K games, which regularly develops and publishes its own line of sports titles, such as NBA2K, WWE2K and PGA Tour 2K. Codemasters adds auto sports to that collection with its standout F1 franchise.
While it transitions to a position under Take-Two’s umbrella, it’s unclear how much of Codemasters’ staff will be retained. Zelnick stated that the company’s senior management and development teams would be welcomed to the Take-Two family, but there was no concrete statement that teams would be brought over in their entirety.