Esports

Take-Two Makes Offer to Purchase Codemasters


Take-Two Interactive Software has made a proposal to acquire UK-based game publisher and developer, Codemasters. The offer would see Take-Two pay 485 pence (approximately $6.40 USD) per share consisting of 120 pence ($1.58) per share in cash and 365 pence ($4.81) in Take-Two stock valuing the company at $975.3M at 152.4M total shares outstanding.

Take-Two said in its announcement that it “believes that the combination of Take-Two and Codemasters would bring together two world-class interactive entertainment portfolios, with a highly complementary fit between Take-Two’s 2K publishing label and Codemasters in the racing genre.” The company added that its “global distribution network and 2K’s core operating expertise in publishing, including live operations, analytics, product development, and brand and performance marketing” would help Codemasters to perform better as a business.

Take-Two is required by law to announce its intention to make an offer or to not make an offer no “later than 12:00 p.m. ET on Dec. 4, 2020.”

Codemasters is a UK-based game developer and publisher that mostly focuses on racing titles including the DIRT, GRID, F1, and Project Cars series. In 2020, it released four main racing titles on consoles and PC: DIRT 5, Project Cars 3, Fast & Furious Crossroads, and F1 2020. Codemasters’ esports efforts focus solely on its F1 series of licensed racing games.

Take-Two Interactive develops and publishes a number of high-profile franchises including Red Dead Redemption 2, Grand Theft Auto IV, WWE-licensed WWE 2K games, and much more. It also operates the NBA 2K League dedicated to competitions in its NBA 2K series of basketball games.

On Friday, Take-Two released financial results for its fiscal year 2021 second quarter, recording a net profit of $99.3M, net revenues of $841M, and increased revenues from in-game purchases, virtual currency, and add-on content.




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