TIDM0IFX TIDMCDM
RNS Number : 6125P
Electronic Arts Inc.
18 February 2021
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18 February 2021
RECOMMED CASH ACQUISITION
of
CODEMASTERS GROUP HOLDINGS PLC
by
CODEX GAMES LIMITED
an indirect subsidiary of
ELECTRONIC ARTS INC.
ELECTRONIC ARTS AND CODEMASTERS ESTABLISH A NEW GLOBAL
POWERHOUSE FOR RACING VIDEOGAMES & ENTERTAINMENT
Electronic Arts Inc. Completes Acquisition of Codemasters Group
Holdings plc
Combining the top-tier talent and expertise across Codemasters'
Formula 1 (R) , DIRT, GRID, DiRT Rally, and Project CARS with EA's
Need for Speed franchise, Real Racing mobile game
Immediate growth opportunities for Codemasters' franchises
through Electronic Arts' commercial resources, technology
infrastructure, and nearly half a billion strong player network
Electronic Arts Inc. (NASDAQ: EA), a global leader in
interactive entertainment, today announced the completion of its
acquisition of Codemasters for 604 pence (approximately US$8.37*)
in cash for each ordinary share of Codemasters with an implied
enterprise value of US$1.2 billion*.
The combination of Electronic Arts and Codemasters marks an
exciting new era in racing game entertainment. Bringing together
two of the most passionate, creative and talented game developer
and publishing organizations in the industry will enable further
growth and continued success for a stable of the most powerful and
popular racing brands in the world, including Formula 1 (R) , Need
for Speed, DIRT, DiRT Rally/WRC, GRID, Project CARS, Real Racing
and more. With this critically acclaimed portfolio, Electronic Arts
and Codemasters will be positioned to bring fans a regular cadence
of new and exciting racing content, in addition to reaching across
more platforms and more regions of the world.
Codemasters' critically-acclaimed franchises Formula 1 (R) ,
DIRT, DiRT Rally, GRID and Project CARS will sit alongside
Electronic Arts' global Need for Speed franchise, fan-favorite Real
Racing mobile game, and its EA SPORTS brands, enabling greater
innovation and increasing the capability to deliver content and
experiences to a truly global audience for racing
entertainment.
"This is the beginning of an exciting new era for racing games
and content as we bring together the talented teams at Electronic
Arts and Codemasters," said Andrew Wilson, CEO of Electronic Arts.
"Racing fandom continues to grow worldwide, and the franchises in
our combined portfolio will enable us to create innovative new
experiences and bring more players into the excitement of cars and
motorsport. Our teams will be a global powerhouse in racing
entertainment, with amazing games for players on every platform,
and we can't wait to get started."
"Today is a landmark in Codemasters' history, and an exciting
day for our employees and players," said Frank Sagnier, CEO of
Codemasters. "The partnership with EA will enable our teams to take
our highly-acclaimed franchises to new heights and reach a huge
global audience through their player network. Together we can
redefine the landscape of racing games to create even more
compelling experiences for racing fans around the world."
The union will open significant growth opportunities for
Codemasters franchises with access to Electronic Arts' network of
more than 430 million players and industry-leading multi-platform
subscription services. Electronic Arts' also brings deep data and
analytics capabilities to the Codemasters development and
publishing teams, providing audience insights to accelerate the
performance of key franchises. These capabilities, as well as
Electronic Arts' global publishing, marketing and game development
strength, will unlock new opportunities for the combined group's
portfolio of racing games and content to reach and deeply engage
more players around the world on console, PC and mobile.
The acquisition of Codemasters is part of Electronic Arts'
growth strategy focused on delivering more exceptional experiences
and top live services, and reaching more players on more platforms
around the world. The acquisition of Codemasters is also expected
to grow net bookings and underlying profitability for Electronic
Arts.
The acquisition of Codemasters was financed with cash on
hand.
For more information on the acquisition, please visit:
investor.ea.com .
*US$ equivalent values are stated at an exchange rate of US$
1.3855:GBP1 on February 17, 2021. Enterprise value based on
Codemasters' unaudited balance sheet as of September 30, 2020.
UBS Investment Bank is acting as financial adviser to Electronic
Arts and Skadden, Arps, Slate, Meagher & Flom (UK) LLP is
acting as legal adviser to Electronic Arts.
Enquiries:
Electronic Arts Inc.
Cat Channon (Sr. Dir, Corporate Communications) Tel: +41 754422274
Chris Evenden (Investor Relations) Tel: +1 650 628
John Reseburg (Global Communications) 0255
Tel: +1 650 628
3601
UBS Investment Bank (sole financial Tel: +44 (0)20
adviser to EA and Bidco 7567 8000
Jonathan Rowley
Alex Iosilevich
David Descoteaux
Sandip Dhillon
About Electronic Arts
Electronic Arts (NASDAQ: EA) is a global leader in digital
interactive entertainment. The Company develops and delivers games,
content and online services for Internet-connected consoles, mobile
devices and personal computers. In fiscal year 2020, EA posted GAAP
net revenue of $5.5 billion. Headquartered in Redwood City,
California, EA is recognized for a portfolio of critically
acclaimed, high-quality brands such as EA SPORTS(TM) FIFA,
Battlefield(TM), Apex Legends(TM), The Sims(TM), Madden NFL, Need
for Speed(TM), Titanfall(TM) and Plants vs. Zombies(TM). More
information about EA is available at www.ea.com/news.
EA SPORTS, Ultimate Team, Battlefield, Apex Legends, The Sims,
Need for Speed, Titanfall and Plants vs. Zombies are trademarks of
Electronic Arts Inc. Madden, NFL and FIFA are properties of its
respective owners and used with permission.
Forward-Looking Statements
The statements contained herein which are not historical facts
are considered forward-looking statements that are subject to
change. Statements including words such as "anticipate," "believe,"
"expect," "intend," "estimate, " "plan," "predict," "seek," "goal,"
"will," "may," "likely," "should," "could" (and the negative of any
of these terms), "future" and similar expressions also identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance and reflect management's
current expectations. Our actual results could differ materially
from those discussed in the forward-looking statements. Some of the
factors which could cause the Company's results to differ
materially from its expectations include the following: the impact
of the acquisition's announcement on the Company's business and
operating results; the occurrence of any circumstance or any other
events that could give rise to the termination of the acquisition,
or the failure to meet conditions to complete the acquisition,
including the receipt of all necessary regulatory approvals; the
Company's ability to successfully integrate Codemasters' operations
and employees; the impact of the COVID-19 pandemic, sales of the
Company's products and services; the Company's ability to develop
and support digital products and services, including managing
online security and privacy; outages of our products, services and
technological infrastructure; the Company's ability to manage
expenses; the competition in the interactive entertainment
industry; governmental regulations; the effectiveness of the
Company's sales and marketing programs; timely development and
release of the Company's products and services; the Company's
ability to realize the anticipated benefits of acquisitions; the
consumer demand for, and the availability of an adequate supply of
console hardware units; the Company's ability to predict consumer
preferences among competing platforms; the Company's ability to
develop and implement new technology; foreign currency exchange
rate fluctuations; general economic conditions; changes in our tax
rates or tax laws; and other factors described in Part II, Item 1A
of Electronic Arts' latest Quarterly Report on Form 10-Q under the
heading "Risk Factors", as well as in other documents we have filed
with the Securities and Exchange Commission, including our Annual
Report on Form 10-K for the fiscal year ended March 31, 2020.
These forward-looking statements are current as of February 18,
2021. Electronic Arts assumes no obligation to revise or update any
forward-looking statement for any reason, except as required by
law.
Other Important Notices
UBS AG London Branch is authorised and regulated by the
Financial Market Supervisory Authority in Switzerland. It is
authorised by the Prudential Regulation Authority (the "PRA") and
subject to regulation by the Financial Conduct Authority and
limited regulation by the PRA in the United Kingdom. UBS is acting
as financial adviser to Electronic Arts and Codex Games Limited and
no one else in connection with the matters referred to herein. In
connection with such matters, UBS, its affiliates and their
respective directors, officers, employees and agents will not
regard any other person as their client, nor will they be
responsible to any other person for providing the protections
afforded to their clients or for providing advice in relation to
the contents of this document or any matter referred to herein.
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END
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February 18, 2021 07:42 ET (12:42 GMT)
Codemasters (LSE:CDM)
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부터 10월(10) 2024 으로 11월(11) 2024
Codemasters (LSE:CDM)
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부터 11월(11) 2023 으로 11월(11) 2024
