A new report published this morning by Video Games Chronicle suggests Codemasters executives have now reached an agreement for the sale of the company to Take-Two, with the deal expected to be completed at some point early next year.
Rumors began swirling around this prospect last Friday and Take-Two quickly confirmed the talks were indeed ongoing, with CEO Strauss Zelnick sharing the following statement.
We are exceedingly pleased to announce this recommended transaction with the board of Codemasters.
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.
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.
The deal should be worth almost a billion US dollars, though a good portion of it would be paid in Take-Two stock. Stay tuned for any official announcements coming from the two companies.
About the author: With over two decades of experience in gaming journalism, Alessio Palumbo has led the gaming vertical at Wccftech since August 2015. He started working at a young age for Italian websites like Everyeye.it, Gamestar.it, Nextgame.it, and Multiplayer.it before kickstarting the indie English-language publication Worlds Factory as its founder and Editor in Chief. In the last decade, he has coordinated the overall output of Wccftech's gaming section, managed PR relations, assigned reviews, produced daily news coverage, edited gaming content as needed, and delivered game reviews. Arguably, his trademark content is the long series of exclusive developer interviews that have been cited by Wikipedia and by the biggest news media and gaming publications. His passion for technology also makes him knowledgeable when it comes to gaming hardware and tech. His favorite genres include RPGs, MMORPGs, and action/adventure games.
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