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Take-Two are buying F1 devs CodemastersRacing to snap up another studio
Racing to snap up another studio
“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,“saidStrauss Zelnick, the chairman and CEO of Take-Two. “Moreover, we look forward to welcoming Codemasters' senior management and development teams into our Take-Two family, and sharing in our vision to deliver the highest quality entertainment experiences and aim to be the most innovative, creative and efficient company in our industry.”
Because Codies are a publicly-traded company, Take-Two will be wanging shareholders some cash and Take-Two shares. They’ve crunched the numbers and declared Codies have “an implied equity value of approximately £759 million ($994 million).”
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I wonder what a change of ownership might mean for Codemasters games. 2K do seem mighty keen to rinse people with microtransactions andloot box guffin their annual sports series like 2K, while Codies are relatively restrained with F1. Other parts of Take-Two are more restrained, mind. Take-Two won’t necessarily want to change anything, though could just be expanding. This comes only a month after Take-Two’s Rockstar armnabbed Ruffian Games, turning them into Rockstar Dundee.
“Stop worrying about timed exclusives and worry more about games industry consolidation,” our Grahamwarnedlast year. Since then, we’ve seen consolidation continue with giant purchases likeMicrosoft buying Bethesda.
