Electronic Arts now appears to be taking over British racing games developer as Take-Two considers another property
Take-Two has pulled out of the race to buy Codemasters, a UK-based developer and publisher.
The company first revealed that they were in talks to buy the racing games expert back in November in a deal that valued Codemasters at just $ 1 billion shy.
However, rival publisher Electronic Arts stepped in with a surprising bid a month later, expecting to acquire the company for about $ 1.2 billion.
Despite this news, the Codemasters Board of Directors pulled the proposal back to Take-Two.
Today, Take-Two told investors through a statement that they have “abandoned its offer. “
The publisher had the right to do so unless Codemasters held a shareholder meeting related to the purchase on or before January 12, which it did not, and Take-Two has not extended this date. .
One final note in the statement states that Take-Two will “continue to seek organic and inorganic opportunities designed to promote the long-term growth of the company and deliver results to its shareholders. “
This suggests that the publisher look in for other uses.
Without a specific counter offer, Electronic Arts seems ready to acquire Codemasters.