Redwood City, Calif .– (Commercial wire) – Today, Electronic Arts Inc. (Nasdaq: EA) announced that it has reached an agreement with the Codemasters Board to nominate UK-based game developer and publisher Codemasters. In the transaction, Codemasters’ shareholders are entitled to receive 604 pence (approximately US $ 7.98 *) in cash for each ordinary share of Codemasters, valued at $ 1.2 billion *. The acquisition calendar is expected to be completed in the first quarter of 2021.
“Electronic Arts and Codemasters have a shared ambition to lead the video game racing genre. The Codemasters Board firmly believes that the company benefits from EA’s knowledge, resources and comprehensive global reach – both within the racing industry as a whole. We hope this union will provide an exciting and prosperous future for Godmasters, allowing our teams to create, launch and serve great and great games for a very interested audience. ” Said Hegard Florin, president of the Codemasters.
“We believe that there is a deep compelling opportunity for fans to combine exciting and innovative new racing games with the Godmasters and Electronic Arts. Thanks to EA’s technology, platform expertise and global accessibility, this combination will allow us to grow our existing ownership and provide industry-defining racing experiences to a global fan base. And we look forward to welcoming the talented team to the Electronic Arts family. ” Said Andrew Wilson, CEO of Electronic Arts.
Strategic rationality:
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E.A. And Electronic Arts believes that the combination of Codemasters will provide further growth and success for the popular and innovative racing owners of Codemasters and EA.
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Combining integrated expertise and talent from Godmasters ‘critically acclaimed sports and racing owners Formula One, DRT, DRT Rally, Grid and Project Cars with EA’s global Need for Speed ownership, fans’ favorite real racing mobile game and EA Sports brands make it meaningful for our teams to further innovate, and provide content and experiences to a growing, global audience for racing entertainment.
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The in-depth creative prowess of the codemasters, which has produced high-end racing games over the years, including Formula One ownership, continues to provide excellent entertainment for F1’s growing fan base.
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EA hopes that this will help speed up the performance of Codemasters by enhancing EA’s in-depth expertise in live service operations, game analysis and technology. Hopes. In addition, EA’s core service teams in development technology, arts and motion capture, quality verification, compliance and localization will all be available resources to Codemasters.
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EA’s global publishing, marketing and game development support capabilities will strengthen the current capabilities of Codemasters and expand the market for addresses for Codemasters owners.
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The combination of Codemasters and Electronic Arts will provide market-leading creative and exciting racing games and content development and distribution to multiple platforms and more players around the world.
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The union also develops continuous and expanded ways for players to engage with the integrated portfolio of sports and racing games through EA’s industry-leading multi-site subscription services.
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Bringing together Codemasters and Electronic Arts provides a compelling financial benefit to the integrated team. The acquisition is expected to boost net bookings and base profits.
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Frank Zagnier, CEO of Codemasters, and Rashid Varachia, CEO of Codemasters, would like to work with the Codemasters’ senior management team following the completion of the acquisition, and E.A. The Codemasters will continue to lead the business within the organization.
For more information about the acquisition, please visit: investor.ea.com.
* US $ equivalents are quoted on December 11, 2020 at an exchange rate of 1.3211: 1. Enterprise value based on the audited balance of codemasters as of March 31, 2020.
UPS Investment Bank serves as a financial advisor to Electronic Arts and Skaten, Orps, Slate, Mehr & Flume (UK). LLP acts as the legal advisor to the EA.
Jefferies International Ltd. acts as a financial advisor and co-broker, and also acts as a nominated advisor and co-broker to Codemasters on the acquisition of Liber Capital Limited. Cowling acts as the legal advisor to WLG (UK) LLP Codemasters.
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Forward-looking statements
Statements without historical facts here are considered as perspective statements subject to change. “Expect,” “Believe,” “Expect,” “Count,” “Evaluate,” “Plan,” “Predict,” “Seek,” “Objective,” “May be,” “Opportunity,” ” Must, ”“ can ”(and any negative in these terms),“ future ”and similar expressions will also identify perspective orientation statements. These perspective statements are not guarantees for future performance and reflect management’s current expectations. Our actual results may differ materially from those discussed in the perspective statements. Some factors that may make a company’s decision materially different from its expectations include: The impact of the acquisition announcement on the company’s business and operating decisions; Failure to meet the conditions for completing the acquisition, including obtaining any other circumstances or any other event that may lead to the termination of the acquisition or all required regulatory approvals; The ability of the organization to successfully integrate the functions and staff of codemasters; Impact of COVID-19 epidemic, sales of company products and services; The company’s ability to promote and support digital products and services, including managing online security and privacy; Malfunctions of our products, services and technical infrastructure; The company’s ability to manage costs; Competition in the field of interactive entertainment; Government regulations; The effectiveness of the company’s sales and marketing plans; Timely development and release of the company’s products and services; The ability of the company to realize the expected benefits of the acquisition; Consumer demand, and adequate supply of console hardware units; The company’s ability to predict consumer preferences on competing platforms; The company’s ability to develop and implement new technology; Foreign exchange rate fluctuations; General economic conditions; Changes in our tax rates or tax laws; And other factors described in Part II, Item 1A of the latest quarterly report on Form 10-Q under the heading “Risk Factors”, as well as other documents filed with the Securities and Exchange Commission, including our Annual Report Form 10- for the financial year ended March 31, 2020. K.
These perspective statements are as of December 13, 2020. Electronic Arts has no obligation to edit or update any perspective statement, except as required by law for any reason or for any reason.
About Electronic Arts
Electronic Arts (Nasdaq: EA) is a global leader in digital interactive entertainment. The company develops and offers gaming, content and online services for Internet-connected consoles, mobile devices and personal computers. In fiscal year 2020, EA recorded GAAP net income of $ 5.5 billion. Headquartered in Redwood, California, E.A. EA is recognized for the portfolio of sports ™ FIFA, Battlefield டன், Apex Legends ™, The Sims ™, Madden NFL, Need for Speed ™, Titanfall as and critically acclaimed, high quality brands. Zombies against plants. E.A. More information about is available at www.ea.com/news.
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Important announcements regarding financial advisors
UPS AG London Branch is authorized and regulated by the Financial Market Oversight Authority in Switzerland. It is approved by the PRA and is subject to regulation by the FCA and limited by PRA in the United Kingdom. The London branch of UPS AG acts as the financial advisor to EA, and no one else is involved in the acquisition. In connection with such matters, the UPS AG London Branch, its subsidiaries and their respective directors, officers, staff and agents shall not treat any other person as their customer, nor shall they be liable to any other person for providing the protections provided to their customers. Or Acquisition, to advise on the contents of this notice or any other matter referred to herein.