Electronic Arts to buy F1 game developer Codemasters

Codemasters, the company responsible for the current generation of Formula 1 games, is bought by Electronic Arts.

British video game developer Codemasters has been developing the annual Formula 1 game since its initial release in 2009, although they haven’t always earned the most reviews.

Indeed, Codemasters’ Formula 1 games have become known over the years for some of the craziest glitches you’ll see in the video game industry, although the F1 2020 release was seen as a strong step forward both in terms of bugs and the simulation experience. of the real Formula 1.

And now Codemasters will try to leverage the expertise of Electronic Arts under this deal, the developer responsible for some of the most popular video game franchises in the world, such as FIFA, NHL and Madden.

The acquisition will be completed in the first quarter of 2021.

“Electronic Arts and Codemasters have a shared ambition to lead the video game racing scene,” said Codemasters chairman Gerhard Florin, as quoted by The Race.

“Codemasters’ board of directors is confident that the company would benefit from EA’s knowledge, resources and extensive global scale – both generally and specifically within the racing industry.

“We believe this union would provide an exciting and prosperous future for Codemasters, enabling our teams to create, launch and deliver bigger and better games to an extremely passionate audience.”

Initially, it was thought that Take Two, the developer responsible for the Grand Theft Auto series, would complete the acquisition of Codemasters, but they were late outbid by Electronic Arts.

The Race report that “the acquisition was announced with an implied enterprise value of $ 1.2 billion.”

“Bringing together the combined expertise and talent of Codemasters’ acclaimed sports and racing franchises Formula 1, DiRT, DiRT Rally, Grid and Project Cars with EA’s worldwide Need for Speed ​​franchise, fan-favorite Real Racing mobile game and EA Sports brands will enable our teams to further innovate and increase the delivery of content and experiences to a growing, global audience for racing entertainment in a meaningful way, ”said the statement announcing the acquisition.

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