EA has officially finalized its purchase of Codemasters

Electronic Arts has officially completed its acquisition of Codemasters, following the delivery of a court order to the Registrar of Companies for England and Wales on Thursday.

The entire issued share capital of Codemasters is now owned by Codex Games Limited, a subsidiary of EA.

Trading in Codemasters shares was suspended on AIM, a London Stock Exchange submarket, this morning, and the existing shareholder will receive settlement (604 pence per share held) within 14 days. Now that the sale is complete, each of the non-executive directors of Codemasters has resigned from the Codemasters board with immediate effect.

EA’s acquisition of Codemasters values ​​the company at around $ 1.2 billion.

In a statement, the publisher said the combination of Electronic Arts and Codemasters marks “an exciting new era in racing game entertainment.”

“This is the start of an exciting new era for racing games and content as we bring together the talented teams from Electronic Arts and Codemasters,” CEO Andrew Wilson said in a statement.

“The racing fandom continues to grow around the world, and the franchises in our combined portfolio will allow us to create new, innovative experiences and bring more players into the excitement of automotive and motorsport. Our teams will be a global powerhouse in racing entertainment, with amazing games for players on all platforms, and we can’t wait to get started.

Frank Sagnier, CEO of Codemasters, added, “Today is a milestone in Codemasters history and an exciting day for our employees and players.

“Partnering with EA will allow our teams to take our popular franchises to new heights and reach a large global audience through their network of players. Together, we can redefine the landscape of racing games to create even more engaging experiences for racing fans around the world. “

Codemasters is the publisher of racing games including Dirt, F1, Grid, and OnRush. The company also recently secured the rights to the FIA ​​World Rally Championship (WRC) and in 2019 it acquired Slightly Mad, the developer of the Project Cars and Fast & Furious Crossroads series.

Rockstar owner Take-Two also filed an offer to buy Codemasters, which was originally accepted before EA made a higher offer that was deemed more favorable.

Discussing the strategic rationale for the potential acquisition of Codemasters as part of its third quarter results earlier this month, EA said the deal would create “a world leader in racing entertainment” and “allow EA to publish new racing experiences every year ”.

EA is home to the Need for Speed ​​and Burnout franchises, but the Codemasters buyout has added a number of top-tier racing brands to its stable.

The publisher’s Need for Speed ​​series has stuck to a biennial release schedule for much of the past decade. Last year he returned the franchise to UK-based Criterion Games and announced a restructuring of the Swedish Ghost Games, which developed the final four entries in the racing series.

It should be noted that in recent years Codemasters have released their own annual racing title, even without counting their annual F1 installments.