EA is buying Codemasters for $1.2 billion to take lead in racing game market

Electronic Arts has agreed to buy out UK developer Codemasters in a move that could see the US publishing giant wrest control of the racing video game genre. The deal is expected to close in the first quarter of next year for £6.04 (~$7.98) a share, valuing Codemasters at around $1.2 billion.

Sky News first reported EA’s interest in Codemasters over the weekend, saying that the British company had previously agreed a $970 million deal with Rockstar Games and 2K Sports owner Take-Two Interactive. EA confirmed the agreement early Monday morning.

Codemasters is one of the oldest British game developers, having been founded in the ‘80s and producing early hits like Dizzy for systems that were popular in the UK like the ZX Spectrum and the...

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