A PYMNTS Company

Take-Two To Buy UK’s Codemasters For $1B

 |  November 8, 2020

Take-Two Interactive has confirmed that it has made a “possible offer” to fully acquire UK-based racing studio Codemasters in a deal that Reuters says will be worth US$973 million. 

Assuming the deal is completed, the buyout would also give Take-Two ownership of Project Cars developer Slightly Mad Studios.

The offer will be contingent upon multiple factors, Take-Two said in a statement, including the completion of due diligence and a thumbs-up from the Codemasters board of directors. That part of it seems like a done deal already, as Codemasters said in a statement of its own that the board intends to “recommend unanimously that Codemasters’ shareholders accept the Possible Offer.”

“Take-Two 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 publisher stated.