EA’s Buyout of Codemasters Almost Closed – Board Approves Offer in Vote

The publisher of FIFA and Need for Speed ​​will take over the rights to Formula 1 and sagas such as DiRT.

The board of directors of Codemasters vote in favor of its acquisition by Electronic arts, as confirmed the british medium VGC. For those who don’t remember, the publisher of games like DiRT 5 had received a takeover offer from Take-Two in November, the American giant that owns 2K Games and Rockstar Games. However, when the deal seemed to be on the right track, EA burst onto the scene with a much higher bid than Take-Two, prompting Take-Two to withdraw its bid in early January.

With the way clear for the marriage between EA and Codemasters, Chief Executive Officer Ian Bell, CEO Frank Sagnier and Chief Financial Officer Rashid Varachia vote to approve the deal for its acquisition by the California company. Is about a binding decision. So even if a third company wanted to emulate EA, and an even superior offer now appeared, the board could not accept it. Still, it is important to note that the agreement still it’s not closed at all.

On February 16, the purchase of Codemasters by Electronic Arts could be closedOn February 3, the Codemasters Board of Directors must meet with shareholders to vote on the purchase of the company, since they own only 4.34% of the shares. Something that is surely a simple procedure, since the three managers they have recommended their investors to vote in favor of the offer. Later, in the case of approval, the purchase it would become official on February 16, and on February 18 Codemasters would cease to be listed on the stock market when it became part of Electronic Arts.

We remind you that the Electronic Arts offer is valued at approximately $ 1.2 billion, and with this purchase, the publisher of sagas such as FIFA, Battlefield and Need for Speed ​​will take over the franchises and licenses in the possession of Codemasters. A portfolio that highlights the exclusivity of Formula 1 games, as well as the DiRT saga and the most recently acquired Project CARS, without forgetting that shooter saga that they have fallow: Operation Flashpoint.

More about: DiRT 5, Codemasters and EA.