EA outbids Take-Two for Codemasters

Racing firm has accepted the bid, Grand Theft Auto giant "considering its position"

Date Type Companies involved Size
December 14th, 2020 acquisition Codemasters
Electronic Arts
Take-Two Interactive
EA outbids Take-Two for Codemasters

US publishing giant Electronic Arts has put more money on the table for UK racing specialist Codemasters than Take-Two.

In a release from its investor relations page, the firm said that it has made an offer of 604p – roughly $7.98 - per share for the company, which clocks up to an impressive $1.2bn. That's a fair bit more than the $994m offer that Codemasters accepted from Grand Theft Auto giant Take-Two Interactive just last month.

This deal is being conducted via a newly-formed Electronic Arts subsidiary called Codex Games, which was incorporated in the UK just days ago on December 9th.


“Electronic Arts and Codemasters have a shared ambition to lead the video game racing category," Codemasters chair Gerhard Florin said.

"The Board of Codemasters firmly believes the company would benefit from EA’s knowledge, resources and extensive global scale – both overall and specifically within the racing sector. We feel this union would provide an exciting and prosperous future for Codemasters, allowing our teams to create, launch and service bigger and better games to an extremely passionate audience."

In a release, Take-Two has noted EA's offer and is "considering its position in relation to Codemasters and a further announcement will be made when appropriate."

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Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.