Take-Two Interactive to Purchase British Game Developer Codemasters

'Dirt 5'
Codemasters

'Dirt 5'

The company, founded in 1986 and based in Southam, England, is known for racing games including the 'Dirt' franchise. 

Video game publisher Take-Two Interactive, the parent company of Rockstar and 2K Games, has reached an agreement to purchase British developer Codemasters.

The $994 million deal is exepected to close during the first quarter of next year.

"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."

He continued, "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."

Codemasters, founded in 1986 and based in Southam, England, is known for racing games including the Dirt franchise. The acquisition comes on the heels of Take-Two's second quarter earnings release, in which the company topped Wall Street's expectations.