EA is closer to buying Codemasters after its shareholders approved the acquisition. Of the 76 shareholders, 63 approved EA’s $ 1.2 billion offer. Those who voted in favor of the deal own just under 99 percent of Codemasters’ total shares.
Competition regulators in Germany and Austria have stamped the acquisition and a hearing will be held on 16 February. Unless there is a problem, EA should close the deal by the end of spring. Codemasters will be part of a new subsidiary called Codex Games.
For a while, it looked like Take-Two Interactive would be the fate of Codemasters. Grand Theft Auto publisher made an offer of almost $ 1 billion in November, but EA made a larger offer the following month.
In its quarterly earnings report, EA said it could launch new racing games every year after sealing the purchase. EA already has some racing franchises in its portfolio, including Need for Speed and Burnout. After the deal is approved, he will add Dirt, Grid, Project Cars and the F1 series to his stable.