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.