It was announced last month that Take-Two Interactive had reached an agreement with Codemasters to acquire the famed racing games developer for almost a billion dollars (£725m). The deal had been given the green light from both parties and was anticipated to be completed in the first quarter of 2021, but now, according to a new report by Sky News, Electronic Arts has decided to enter the ring.
EA has reportedly tabled an offer through UBS bank that surpasses Take-Two's, per a source speaking to Sky News. While the exact details surrounding this apparent offer are missing, it is described as a "knockout bid" compared to what was being discussed in the original deal.
Take-Two currently does not publish any racing titles, and the Codemasters acquisition would help to easily fill that gap. EA, on the other hand, already has popular racing franchises under its wing such as Need for Speed and Burnout, with dedicated developers to build new entries. However, these games fall very heavily into the arcade racing side, and a Codemasters acquisition could give the publisher an entry into the simulation and track racing genres.
If the report turns out to be accurate, it will be interesting to see just how much money will be thrown around in the end to acquire the British studio, especially considering EA's market value is over double of Take-Two's. The offer will reportedly be disclosed on Monday morning.