Take-Two looks to purchase a stake in Codemaster Group Holdings

Take-Two Interactive Software Inc. is the company that has backed games like Grand Theft Auto and NBA 2K. now the company has offered to buy the British game developer Codemasters Group Holdings Plc for about $974 million. The offer values Codemasters share at 485 pence per share is said to be about 739 million pounds. It is confirmed by Take-Two itself in an official statement.

Codemasters Group is best known for Colin McRae and Formula 1 racing games. The group has also seen its shares soar more than 68% this year. The sudden increase in the industries share is attributed to the changes brought forth by the pandemic.  The pandemic has brought forth a surge in video-game sales to customers stuck at home during lockdowns.

Take-Two said in its official statement, “Take-Two believes that the combination of Take-Two and Codemasters would bring together two world-class interactive entertainment portfolios, with a highly complementary fit between Take-Two’s 2K publishing label and Codemasters in the racing genre”.

According to sources, Codemasters fiscal 2021 sales is expected to be of about 120 million pounds ($158 million). Whereas, Take-Two’s 2021 sales are expected to total $3.13 billion.

- Advertisement -Untitled-13

Take-Two revenue results posted earlier exceeded expectations by analysts. The gains are being accredited by sales of the popular NBA 2K and Grand Theft Auto video games. It also issued an upbeat outlook for the year.

Chief Executive Officer Strauss Zelnick said, “It is clear the world has started to return to normal in the last few months; if anything, we saw further engagement with our titles”.

The video game industry has seen an increase in profit in the post-pandemic world. As to whether the acquisition by Take-Two will get a green signal remains to be seen.

Source

Do check out:

720x200

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles

Apple to reduce 15% of the App store commission for eligible developers

Apple is always known for bringing up crazy but innovative ideas for its platforms. Recently the company has launched a new service for App...

AMD Radeon RX 6900 XT performs extremely well in OpenCL benchmark score

The benchmark result for the upcoming AMD Radeon RX 6900 XT was posted by a Twitter user, APISAK, in the OpenCL database. The tested...

AMD’s green lits the development of custom RX 6900 XT cards

The upcoming Radeon RX 6900 XT is supposed to be the fastest card among the Radeon RX 6000 line-up. The menu will feature the...

Stay Connected

13,642FansLike
354FollowersFollow
89FollowersFollow

Hot Topics

300x600

Latest Articles

India clinched a win in the first T20 against Australia

Team India leads by 1-0 in the T20 against Australia series as India defeated Australia in the first of three T20s at the Manuka...

Apple to reduce 15% of the App store commission for eligible developers

Apple is always known for bringing up crazy but innovative ideas for its platforms. Recently the company has launched a new service for App...

AMD Radeon RX 6900 XT performs extremely well in OpenCL benchmark score

The benchmark result for the upcoming AMD Radeon RX 6900 XT was posted by a Twitter user, APISAK, in the OpenCL database. The tested...

Google rolls out new live wallpaper update for Photos App

Android users who are bored of their usual wallpapers will be happy to know about the new update that Google is rolling out for...

Chelsea could be David Alaba’s only realistic destination

David Alaba is nearing the end of his contract at Bayern, and as of now, there are no talks between Bayern and David for...

Trending

Meet boAt Watch Enigma: the Slim yet Powerful wearable

In the Indian audio market, boAt is the leader above all the other brands. According to the recent report, boAt is on top in...

NVIDIA GeForce RTX 3060 Ti officially launched at Rs. 35,900 ($399)

Finally, today, after having leaked completely already, NVIDIA has made their new RTX 3060 Ti available via a press release, and it kept the...

Vivo V20 Pro 5G Launched in India at INR 29,990

After Vivo V20 and Vivo V20 SE, Vivo is set to launch its third smartphone, Vivo V20 Pro, under its Vivo V20 smartphone series....

Top 5 companies owned by Facebook Inc.

Facebook has been a game-changer in the social media industry. It was launched way back in 2004 by Mark Zuckerberg's Facebook Incorporation. The social...

Featured

Earn real money with these 5 gaming apps

The gaming industry is gaining way more prominence in India than expected. This industry is growing year by year and is creating opportunities for people...

FIFA 21: Here’s the FUT 21 Team of the Week 10 (TOTW 10)

EA Sports has now officially revealed the Team of the Week 10 for the FIFA 21 Ultimate Team. It is headed by World Cup...

FIFA 21: David Beckham’s ICON ratings have been revealed

EA Sports has officially revealed David Beckham as the cover star of FIFA 21 next-gen edition. David Beckham is one of the most popular...

FIFA 21 is coming to PS5 and Xbox Series S and X on 4th December: What to expect?

FIFA 21 has already been globally released on 9th October. It somewhat matched the hype as EA Sports brought some changes demanded by the...