Take-Two Acquiring Codemasters

Take-Two Interactive announces they are going ahead with the acquisition of Codemasters they first mentioned last week. They expect to complete this by the end of Q1 2021 in an all-stock transaction worth a bit under a billion dollars:
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today announced that it has reached an agreement with the Board of Codemasters for the recommended acquisition of Codemasters, the UK-based game publisher and developer. In the transaction, Codemasters' shareholders will be entitled to receive 120 pence (*approximately $1.58) in cash and 0.02834 shares of Take-Two common stock for each ordinary share of Codemasters. Based on Take-Two’s closing share price of $168.68 and the exchange rate of US$1.31:£1 on November 5, 2020 (being the day prior to rumors of Take-Two’s possible interest in Codemasters), the transaction values each Codemasters’ share at 485 pence ($6.39) and an implied equity value of approximately £759 million ($994 million). The acquisition is anticipated to be completed in the first quarter of calendar 2021.

“We are exceedingly pleased to announce this recommended transaction with the Board of Codemasters," said Strauss Zelnick, Chairman and CEO of Take-Two. “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."

“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 Gerhard Florin, the Chairman of Codemasters. “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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10.
 
Re: Take-Two Acquiring Codemasters
Nov 11, 2020, 03:51
Rilcon
 
10.
Re: Take-Two Acquiring Codemasters Nov 11, 2020, 03:51
Nov 11, 2020, 03:51
 Rilcon
 
Quinn wrote on Nov 10, 2020, 13:28:
These guys killed the best game ever made: Severance - Blade of Darkness

That game was Dark/Demon Souls a decade before its time. There shouldnt be games referred to as "souls like" but "Severance like".

Yes, my heart will forever bleed a little. The unfairness of life, how a great new studio called RebelAct didn't become what it was meant to be.

Quoting for truth
9.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 19:55
9.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 19:55
Nov 10, 2020, 19:55
 
theglaze wrote on Nov 10, 2020, 17:44:
Slick wrote on Nov 10, 2020, 15:10:
It's funny, I think of Rockstar's 7-year deve cycles when I think of Take Two, and Codemasters I think of them pushing the same shit out the door every year FIFA-style. Maybe this aquisition qould do them some good. They need a good kick up the arse IMO.

Also a good point

The Steam reviews are Mixed for the latest Dirt and Grid releases, while Very Positive for F1. Suggesting that the developer has lost the mojo to appeal to casual fans whilst balancing the demands of all those with racing peripherals who want a technical foundation to a racing game. From what I see, the Career mode in F1 is the best yet.

Perhaps Codies will receive some story-writing talent from Take-Two... an injection of soul and context that make the races MATTER against your opponents, against your teammate. That's what makes all sports engaging, the drama in and between the teams as they push each other to win, or push too far and towards self-destruction. Motorsports is no different.

Dirt and Grid need some Borderlands and GTA personality, voice acting, dialog, plot, etc... that provides context and player interest into otherwise mundane gameplay
Tiny Tina race team!
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8.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 19:53
8.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 19:53
Nov 10, 2020, 19:53
 
Parallax Abstraction wrote on Nov 10, 2020, 13:13:
RIP fairly monetized racing games.

I dunno, Grid 2 was pretty aggressively monetized, a fact they threw into your face every time you loaded the game. Any given race you have to scroll to the bottom before getting to the cars that aren't paid DLC. And it was a full price game at launch.
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7.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 17:44
7.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 17:44
Nov 10, 2020, 17:44
 
Slick wrote on Nov 10, 2020, 15:10:
It's funny, I think of Rockstar's 7-year deve cycles when I think of Take Two, and Codemasters I think of them pushing the same shit out the door every year FIFA-style. Maybe this aquisition qould do them some good. They need a good kick up the arse IMO.

Also a good point

The Steam reviews are Mixed for the latest Dirt and Grid releases, while Very Positive for F1. Suggesting that the developer has lost the mojo to appeal to casual fans whilst balancing the demands of all those with racing peripherals who want a technical foundation to a racing game. From what I see, the Career mode in F1 is the best yet.

Perhaps Codies will receive some story-writing talent from Take-Two... an injection of soul and context that make the races MATTER against your opponents, against your teammate. That's what makes all sports engaging, the drama in and between the teams as they push each other to win, or push too far and towards self-destruction. Motorsports is no different.

Dirt and Grid need some Borderlands and GTA personality, voice acting, dialog, plot, etc... that provides context and player interest into otherwise mundane gameplay
6.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 15:10
Slick
 
6.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 15:10
Nov 10, 2020, 15:10
 Slick
 
It's funny, I think of Rockstar's 7-year deve cycles when I think of Take Two, and Codemasters I think of them pushing the same shit out the door every year FIFA-style. Maybe this aquisition qould do them some good. They need a good kick up the arse IMO.
For your transgressions you shall be labeled a shill, called an idiot and anytime you mention facts or disagree with a tribe member you will henceforth be known as a troll. The best you can hope for is that the labels won't haunt your offspring. -RedEye9
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5.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 14:50
5.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 14:50
Nov 10, 2020, 14:50
 
Parallax Abstraction wrote on Nov 10, 2020, 13:13:
RIP fairly monetized racing games.

yikes, it's true
4.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 13:28
4.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 13:28
Nov 10, 2020, 13:28
 
These guys killed the best game ever made: Severance - Blade of Darkness

That game was Dark/Demon Souls a decade before its time. There shouldnt be games referred to as "souls like" but "Severance like".

Yes, my heart will forever bleed a little. The unfairness of life, how a great new studio called RebelAct didn't become what it was meant to be.
Avatar 57334
3.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 13:13
3.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 13:13
Nov 10, 2020, 13:13
 
RIP fairly monetized racing games.
Parallax Abstraction
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2.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 12:15
2.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 12:15
Nov 10, 2020, 12:15
 
Reminds me of the article that was recently posted about fraudulently acquiring Sierra for close to a billion.
1.
 
Re: Take-Two Acquiring Codemasters
Nov 10, 2020, 11:56
Cutter
 
1.
Re: Take-Two Acquiring Codemasters Nov 10, 2020, 11:56
Nov 10, 2020, 11:56
 Cutter
 
Really? Almost a billion for a company that just makes a few racing games? Wow, I'm in the wrong business.
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