Codemasters Joining Take-Two in 2021
According to a note sent to investors recently, Take-Two is in talks to acquire Codemasters in the first quarter of 2021, barring shareholder disapproval. Codemasters will continue to operate with the existing leadership of CEO Frank Sagnier, CFO Rashid Varachia, and the rest of its senior management team under the 2K umbrella according to the investor note. Take-Two CEO Strauss Zelnick and Codemasters chairman Gerhard Florin both expressed enthusiasm for the upcoming acquisition in recent statements. DiRT 5 is available right now for Xbox One, Xbox Series X/S, PS4, PS5, Google Stadia, and PC.
“We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters,” said Take-Two CEO Strauss Zelnick. “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,” continued Strauss Zelnick.
“With a leading position in sports gaming, the Board of Codemasters firmly believes the Company will benefit from Take-Two’s broad capabilities which will help propel the long-term success of Codemasters,” said Codemasters chairman Gerhard Florin. “In recommending this offer to shareholders, the Board of Codemasters believes it is in the best interests of all stakeholders in the Company. Take-Two’s offer reflects the great work the management team has done since listing on AIM in 2018 at 200p and delivers an excellent return for shareholders in just two and a half years.”
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