Codemasters, UK-based developer and publisher of the Formula 1 and Dirt franchises have been bought out by EA after battling with Take-Two.
The acquisition is believed to be in the region of $1.2 billion.
Take-Two, Rockstar's parent company, offered $994 million in November, but EA has now reached an agreement with Codemasters' board of directors to purchase the company for $1.2 billion, as reported by Sky News.
Read More: EA makes $1.2 billion Codemasters bid, challenging Take-Two
EA Outbids Take-Two For Codemasters, Reaches $1.2 Billion Agreement
EA CEO Andrew Wilson said that "With the full leverage of EA’s technology, platform expertise, and global reach, this combination will allow us to grow our existing franchises and deliver more industry-defining racing experiences to a global fan base."
Reports suggest that Codemasters are looking to lean on EA for live service ops.
“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,” Codemasters chairman Gerhard Florin said in a statement.
In purchasing Codemasters, EA would seemingly be able to publish Formula 1 racing titles as part of the existing arrangement.
Codemasters also acquired the WRC licence from 2023 onwards.
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Considering how EA's sports franchises dominate that space with the likes of FIFA and Madden, the possibility of Codemasters allowing them to offer a Formula 1 title to help them dominate the racing space is an interesting prospect.
The publisher's current racing series du jour, Need For Speed, has seen diminishing returns in recent years, while popular arcade-style racer Burnout remains on hiatus.