Take Two Interactive Software has made an offer to buy out Codemasters. The offer, a cash and shares mix of $973.8 million, has been confirmed by Warwickshire-based Codemasters. It sounds like a deal is in its advanced stages and almost complete except for formalities like the approval by respective boards of directors and due diligence. As VentureBeat reports this is more evidence that consolidation in the games industry is a serious trend.
New York based Take Two is cash rich at the moment and well aware of rivals consolidating – like the recent news of Microsoft acquiring Bethesda for $7.5 billion. Thus it has been looking for bargains to complement its developer portfolio. Some would say that Take Two is strong in genres like action games, open world adventures, sports and strategy titles. It owns the likes of 2K and Rockstar Games, for example.
That's only possible because of the talented individuals who make up Slightly Mad Studios. We know your talent is valuable—we've been around long enough to know keeping talented individuals motivated and engaged, with the opportunity to grow within the company, is the not-so-secret secret to a successful, thriving, creative studio.
- In May 2018, Slightly Mad Studios announced the mobile spin-off Project CARS GO, which is being developed by Gamevil. It will feature licensed cars and vehicle customisation. 73 In 2020, Slightly Mad Studios announced Project CARS 3 which was released on August 28 of the same year.
- Slightly Mad Studios 5th Floor Mill House 8 Mill Street London SE1 2BA United Kingdom. PHONE +44 207 252 1843.
Codemasters is of course best known for racing games, particularly those featuring automobiles and has some great IPs like F1, Dirt, and Grid. Last year it acquired Project Cars and Fast & Furious games maker Slightly Mad Studios for $196 million.
Take Two has approx 6,000 employees, which includes 4,600 in-house developers. Codemasters has just 750 employees. At the moment Take Two seems to be cash rich with almost $2.4 billion in cash and no debts. Even so, the Codemasters transaction is expected to be a cash/stock offer of about $230 million in cash and $700 million in Take-Two stock.
Both sides appear to be positive about the deal, so it should end up being signed and sealed. Under UK City Code concerning takeovers and mergers Take Two now has until 4th Chhoti bahu serial song download. December to commit to its offer or walk away from the process.
Download kodi app on smart tv. Slightly Mad Studios, developers of Project CARS, have been acquired by Codemasters for an upfront fee of $30 million.
This brings the racing prowess of the developers into the Codemasters family, who are already well-established experts in the genre. As part of the deal all 150 employees at Slightly Mad Studios will also make the transition into Codemasters.
Slightly Mad Studios Stock
Codemasters will pay $30/£23.2 million for Slightly Mad Studios, made up of $25 million in cash, and a further $5 million in stock. The value could be made higher because of an earnout clause based on Slightly Mad Studios' earnings before interest and tax over a three year period.
According to a spokesperson who spoke with GamesIndustry.biz, the maximum earnout would be $166 million, or about £128.9 million. Financial Analyst Liberum expects that the actual buyout will be closer to $67.9 million, or £52.6 million.
Frank Sagnier, CEO of Codemasters, says that this acquisition will create a racing genre global leader. Sagnier added that the passion and focus for quality that Slightly Mad Studios put into their work mirrors that of Codemasters, and the combination of world renowned franchises between them, coupled with the exciting projects in various development pipelines, make a formidable force.
Sagnier also explained how by bringing the studio into the Codemasters fold, the company can now reach a wider audience, and bring better quality products to them. The acquisition will also help create a much more predictable revenue stream.
Codemasters Slightly Mad Studios
Codemasters have been making virtual racing games since their inception in 1986. Slightly Mad Studios is a much younger company, established in 2009, but quickly established themselves as leaders in the racing game industry with Projects CARS, and the follow up, Project CARS 2.
Slightly Mad Studios Stock Price
One of the most attractive aspects for Codemasters when acquiring Slightly Mad Studios was the portfolio of projects in the pipeline. Currently the developers are working on Project CARS Go, a mobile game, another game based on a blockbuster hollywood franchise, rumoured to be a Fast & Furious game, and a third original IP.
Slightly Mad Studios Games
The $5 million in stock that Codemasters is paying to Slightly Mad Studios will be payable upon release of the game based on a popular hollywood franchise.
The Wii Mini can be described as an ultra-compact version which had the ability to move the disc loader up the unit, but a lot of the connectivity features were let go along with Gamecube support. The Wii was rendered obsolete by the Wii U, considering the fact that it's compatibility with the former console's digital download titles. Roms e Isos de 3DS, Wii, PS1, PS2, PS3, PSP, Gamecube, Arcade, NDS, Snes, Mega drive, Nintendo 64, GBA e Dreamcast para download. Download juegos para wii isos.
Both sides appear to be positive about the deal, so it should end up being signed and sealed. Under UK City Code concerning takeovers and mergers Take Two now has until 4th Chhoti bahu serial song download. December to commit to its offer or walk away from the process.
Download kodi app on smart tv. Slightly Mad Studios, developers of Project CARS, have been acquired by Codemasters for an upfront fee of $30 million.
This brings the racing prowess of the developers into the Codemasters family, who are already well-established experts in the genre. As part of the deal all 150 employees at Slightly Mad Studios will also make the transition into Codemasters.
Slightly Mad Studios Stock
Codemasters will pay $30/£23.2 million for Slightly Mad Studios, made up of $25 million in cash, and a further $5 million in stock. The value could be made higher because of an earnout clause based on Slightly Mad Studios' earnings before interest and tax over a three year period.
According to a spokesperson who spoke with GamesIndustry.biz, the maximum earnout would be $166 million, or about £128.9 million. Financial Analyst Liberum expects that the actual buyout will be closer to $67.9 million, or £52.6 million.
Frank Sagnier, CEO of Codemasters, says that this acquisition will create a racing genre global leader. Sagnier added that the passion and focus for quality that Slightly Mad Studios put into their work mirrors that of Codemasters, and the combination of world renowned franchises between them, coupled with the exciting projects in various development pipelines, make a formidable force.
Sagnier also explained how by bringing the studio into the Codemasters fold, the company can now reach a wider audience, and bring better quality products to them. The acquisition will also help create a much more predictable revenue stream.
Codemasters Slightly Mad Studios
Codemasters have been making virtual racing games since their inception in 1986. Slightly Mad Studios is a much younger company, established in 2009, but quickly established themselves as leaders in the racing game industry with Projects CARS, and the follow up, Project CARS 2.
Slightly Mad Studios Stock Price
One of the most attractive aspects for Codemasters when acquiring Slightly Mad Studios was the portfolio of projects in the pipeline. Currently the developers are working on Project CARS Go, a mobile game, another game based on a blockbuster hollywood franchise, rumoured to be a Fast & Furious game, and a third original IP.
Slightly Mad Studios Games
The $5 million in stock that Codemasters is paying to Slightly Mad Studios will be payable upon release of the game based on a popular hollywood franchise.
The Wii Mini can be described as an ultra-compact version which had the ability to move the disc loader up the unit, but a lot of the connectivity features were let go along with Gamecube support. The Wii was rendered obsolete by the Wii U, considering the fact that it's compatibility with the former console's digital download titles. Roms e Isos de 3DS, Wii, PS1, PS2, PS3, PSP, Gamecube, Arcade, NDS, Snes, Mega drive, Nintendo 64, GBA e Dreamcast para download. Download juegos para wii isos.
Slightly Mad Studios Console
In order to finance the acquisition, Codemasters will raise £20 million through new share pricing, at a price of £2.10 per share. Codemasters expect earnings per share to rise by 30 percent in the first year of ownership as a result of this acquisition, making investment far more attractive.
