10 november 2020
18:39
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American Take-Two, known from the games Grand Theft Auto and NBA 2K, buys British sector colleague Codemasters, which specializes in racing games such as F1. The British agreed to a bid of 759 million pounds (850.2 million euros).
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The offer amounts to 485 pence per share. Per share of Codemasters, 120 pence is paid in cash and 0.02834 shares in Take Two. The deal may close in the first quarter of next year.
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Codemasters saw its shares rise more than 60 cents this year. It took full advantage of the increased appetite for gaming during the lockdowns. Take-Two, for its part, released results above expectations last Thursday and released a positive outlook.
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The gaming sector appears to be in a takeover phase. In September, Microsoft bought ZeniMax Media for $ 7.5 billion, with studios such as Bethesda, Arkane and id. In February, Sony bought Insomniac Games, the developer of Spider-Man, for $ 229 million.
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Quite a few observers think that the increased enthusiasm for gaming will continue after the pandemic. Major gaming companies are looking to ramp up their scale and studio portfolios.
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