Publisher Behind GTA: Take-Two Announces the Acquisition of Codemasters

The video game industry has had a very eventful year so far. It has been full of acquisitions and consequent developments. Unsurprisingly, another development has just surfaced that has taken the community by storm. Take-Two Interactive has reached an agreement to acquire Codemasters.

Take-Two will spend a w whopping $994 million to acquire the studio behind racing series like F1 and Dirt. The two companies were negotiating for a while but seem to now have set a seal on the deal that will close in the first quarter of 2021.

Take-Two to experiment with racing titles with the acquisition of Codemasters?

Take-Two is the parent company of Rockstar Games that is behind mammoth franchises like Grand Theft Auto and Red Dead Redemption. It is possible that Take-Two is widening its horizon with the acquisition of Codemasters as it allows it to have several racing titles under its belt.

This is what the company had to say about the acquisition, “Codemasters has a renowned history of creating some of our industry’s most beloved and commercially successful racing franchises, and we believe that their offerings will be highly complementary to our sports portfolio and enhance further our organization’s long-term growth.”

ALSO READ– Fortnite Might Add Periodic Subscription Soon

More importantly, this allows Take-Two to add a pretty impressive studio to its arsenal. It also enables Codemasters to make the most of Take-Two’s resources and success as a world-class entertainment studio.

In addition, Take-Two has been a flag-bearer in terms of product and brand development. Its expertise in the performance market with a dedicated analytics department makes it a perfect fit for Codemasters in the long run.

However, this deal will only close in the first quarter of 2021. Even though both the companies have agreed on a price and most other details, the deal still has the potential to collapse if they fail to see eye to eye on absolutely everything. However, that is an unlikely scenario at this stage.

Codemasters’ Dirt 5 released just a few days back for the current-gen consoles. But it will also make its way to PlayStation 5 and Xbox Series S/X.