GTA Publisher Take-Two To Purchase Codemasters

Codemasters, the racing studio behind the official Formula 1 game, Dirt and Grid are being acquired by Grand Theft Auto publisher Take-Two. The deal will be worth just under $1bn and is expected to be finalised in the early part of next year. Both companies are delighted with the acquisition.

GTA Publisher Take-Two To Purchase CodemastersTake-Two – the publisher behind the Grand Theft Auto and Borderlands series is to acquire British racing studio Codemasters in a deal worth just under $1bn (£759m). The deal is expected to be finalised in the new year. Codemasters are best known for their excellent work on the official Formula 1 game, Dirt and Grid.

In a statement via Business Wire, Strauss Zelnick, Chairman and CEO of Take-two is delighted to get Codemasters on board:

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.

Zelnick then continued to say that the 100% buyout of Codemasters would be “highly complementary” to its existing sports portfolio which includes the NBA 2K games and welcomed Codemasters’ senior management and development teams.

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On the Codemasters side, Gerhard Florin, Chairman of Codemasters sees huge benefits in the company being taken over by Take-Two.

With a leading position in sports gaming, the Board of Codemasters firmly believes the Company will benefit from Take-Two’s broad capabilities which will help propel the long term success of Codemasters.   

As part of the deal, Codemasters will take advantage of Take-Two’s global distribution and marketing infrastructure. The British studio can therefore put more time and resources into their games and hopefully overall providing a better product. 

What do you make of the acquisition of Codemasters? We doubt very much they will be working on huge Take-Two titles any time soon but maybe this added financial stability will bring a host of new titles from them.       

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