Codemasters Formally Agrees to Take-Two Acquisition

British game developer and publisher Codemasters and U.S.-based Take-Two Interactive Software announced that they have reached an “acquisition agreement” for approximately $980M USD. The deal, if it meets shareholder and regulatory approval in the United Kingdom and the United States, could be consummated by Q1 2021. A letter sent to shareholders on Tuesday revealed the formal agreement.

In a statement, Take-Two CEO Strauss Zelnick said, “We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters.”

In a similar statement, Codemasters Chairman Gerhard Florin said that the company “will benefit from Take-Two’s broad capabilities which will help propel the long-term success of Codemasters.”

Codemasters develops and publishes a variety of racing games including Project Cars, DIRT, and F1. F1 is the only game developed by Codemasters that has regular esports competitions. Take-Two publishes a variety of high profile games, though its NBA 2K series is the most important to the esports industry. Take-Two through its 2K Games subsidiary operates the NBA 2K League in cooperation with the NBA.