EA’s $1.2 Billion Acquisition of Codemasters Approved

[Update: As of February 18, EA’s acquisition of Codemasters has been finalized.]

Despite being a late-comer to the party, it looks like Electronic Arts acquisition of Codemasters is all but complete.

EA intends to use this acquisition to increase its presence in the racing genre. According to the company’s recent earnings call, it has aspirations to be “a global leader in racing entertainment,” that puts out “new racing experiences annually.”

The main game of interest for EA was Formula 1, Codemasters’ only annual series currently. F1 2020 was a hit for many and Formula 1 racing as a whole has been growing in popularity worldwide for some time now. The company likely sees the F1 series joining FIFA as a global title to release every year.

Titles such as IP Dirt, Dirt Rally, Grid, and more will also be added to EA’s catalog of Need for Speed, Burnout, and the Real Racing series.

Sixty-three of Codemasters’ 76 shareholders voted to approve EA’s takeover bid. A formal court hearing awaits on February 16. By all accounts, the $1.2 billion acquisition of the British racing game maker should be complete between April and June this year.

EA’s $1.2 billion offer was able to push Take-Two Interactive out of contention. The developer withdrew after initially offering close to $1 billion.

It remains to be seen what EA will do with Codemasters’ other assets, but more information on that will come in due time. As gamers, let’s just hope that the company can tap into the full potential of these titles and give us some great racers.